The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut. “I think they’re fully planning on cutting in July, absent stronger data,” said Ed Keon, QMA chief investment strategist. “The market liked it now, but it’s important to keep in mind, rate cuts
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Check out the companies making headlines before the bell: Southwest Airlines – The airline raised its full-year revenue for revenue per available seat mile, owing to what it calls “solid” demand. The airline said fuel efficiency is down, however, due to the grounding of its 737 Max jet fleet. Southwest also extended cancellations of flights
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Traders work the floor at the NYSE in New York. Brendan McDermid | Reuters Check out the companies making headlines after the bell: Shares of Adobe jumped nearly 3% during extended trading after the technology company reported $1.83 in adjusted earnings per share on $2.74 billion in revenue for the second quarter. Those figures topped
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Shantanu Narayen, CEO, Adobe Mark Neuling | CNBC Adobe shares rose more than 3% after hours on Tuesday after the company announced better-than-expected earnings for the second quarter of its 2019 fiscal year, which ended on May 31, and lighter-than-expected guidance. Here are the key numbers: Earnings: $1.83 per share, excluding certain items, vs. $1.78
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The cryptocurrency industry cannot get enough of Libra, touting its ability to gain mainstream adoption which bitcoin strived to do for years. “Libra is potentially one of the most positive external tailwinds in Bitcoin in its 10-year history,” said Spencer Bogart, of Blockchain Capital to CNBC over email. However there are differences between bitcoin and
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Wall Street analysts reacted with great fanfare after Facebook finally revealed the details of its long awaited cryptocurrency, Project Libra, on Tuesday. Most analysts believe the crypto project will give the company a major boost and continue pushing Facebook to further greatness. The social media giant said its partners in the initiative include eBay, Lyft,
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Adobe’s upcoming earnings report could be a moment for traders to cash in. The options market is implying about a 4% move in either direction for shares of the cloud giant after it issues fiscal second-quarter results, Dan Nathan, co-founder and editor of RiskReversal.com, said Monday. “That’s in line with the average over the last
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Bank of America financial center manager, center, shows a customer how to use the ATM with Teller Assist station in Cherry Creek. Andy Cross | Denver Post | Getty Images Here are the biggest calls on Wall Street on Tuesday: BMO upgraded Bank of America to ‘outperform’ from ‘market perform’ BMO said that the bank’s
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Thomas M. Barwick | Getty Images Financial advisors have another “best interest” rule around the corner: This regulation applies to life insurance and annuity recommendations. New York is rolling out a regulation that will require financial advisors to place their clients’ interests above their own when they’re making recommendations around proposed or in-force insurance contracts.
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CNBC’s Jim Cramer does not expect the Federal Reserve to cut interest rates at its meeting on Wednesday. “I’m expecting a statement from [Chairman] Jay Powell where he explains that he’s watching the situation closely [and] he’s prepared to cut rates next month if things deteriorate,” the “Mad Money” host said. “I regard that as
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