FOMC Interest Rate Decision | Jerome Powell 7-31-19
Here’s what you should know about the Federal Reserve’s first expected cut since the crisis
The Federal Reserve is expected this week to embark on its first benchmark rate cut since the financial crisis, drawing questions about whether this will mark the first of many, or an ‘insurance cut’ to help extend the U.S.’s recordlong expansion.
The U.S. central bank is expected to lower rates by at least 25 basis points to a range between 2.00% and 2.25% at its July 30-31 meeting.
Apple Earnings Beat Estimates, Stock Explodes
After the markets closed today, tech giant Apple (AAPL) reported better-than-expected earnings results for the third quarter of fiscal 2019, which ended on June 29. Apple’s revenue grew 1.0% to $53.8 billion. The results came in ahead of analysts’ estimate of $53.4 billion.
Under Armour just slipped into a correction, and chart suggests more room to fall
Under Armour is under pressure. The athleisure company warned of weaker demand in North America, its largest market, sending its shares plummeting 12% on Tuesday in its worst one-day drop in two years.
Those losses pushed the stock into a correction, having fallen more than 10% from a July high.
U.S., China trade meeting ends with sharp response to Trump
SHANGHAI (Reuters) – Talks between U.S. and Chinese trade officials seeking ways to end a year long trade war lasted barely half a day before ending on Wednesday with a terse response from China’s Foreign Ministry to U.S. President Donald Trump’s warning not to stall.