The S&P 500 ended lower on Wednesday, reversing gains late in the day as losses in technology shares outweighed a Federal Reserve statement that stoked optimism it would keep U.S. interest rates near zero for a prolonged period.
The Federal Reserve kept interest rates pinned near zero on Wednesday and made a bold, new promise: to keep them there until inflation is on track to "moderately exceed" the U.S. central bank's 2% inflation target "for some time."
The U.S. Federal Reserve boosted its view of the American economy's recovery from the coronavirus crisis on Wednesday, projecting the pandemic will take a slightly smaller bite from the economy this year with three years of steady growth to follow.
Global equities slid and the dollar firmed on Wednesday after the Federal Reserve pledged to hold interest rates near zero until at least 2023 and keep its bond-buying program in place to stimulate the U.S. economy as part of a dovish policy stance.
The Federal Reserve kept interest rates pinned near zero on Wednesday and promised to keep them there until inflation is on track to "moderately exceed" the U.S. central bank's 2% inflation target "for some time."
Goldman Sachs Group promoted Barry O'Brien to co-chief operating officer of its global tech, telecom and media investment (TMT) banking team, according to a memo seen by Reuters on Wednesday.
Shares of Nikola Corp on Wednesday reversed course to trade up as much as 6% from premarket losses, resulting in $24 million in mark-to-market losses for those betting against the stock, according to financial analytics firm S3 Partners.
Marco Rubio and five other Republican senators called on the Trump administration to reject a proposed deal for Oracle to become a "trusted technology provider" for popular social media platform TikTok's U.S. operations if ties to Chinese owner Bytedance remain.
White House economic adviser Larry Kudlow on Wednesday said the United States was in a "deep review process" of a deal Oracle struck with the popular video-sharing app TikTok's Chinese parent company.
Options investors are positioning for rising Treasury yields, as improving data and rising hopes for a COVID-19 vaccine fuel bets on U.S. economic growth.
European Commission President Ursula Von der Leyen set out ambitious new climate goals for the EU on Wednesday, and also said a proposal was on the way for minimum wages. Francis Maguire reports.
Nintendo says subscriber numbers for its Switch Online service are booming, in large part thanks to the success of family-friendly game 'Animal Crossing'. Julian Satterthwaite reports.
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