Oil and gas producer Whiting Petroleum on Wednesday reported a surprise quarterly loss, announced a 33% job cut and asset sales as a lack of natural gas infrastructure hits prices.
Wearable device maker Fitbit Inc cut its 2019 revenue forecast on Wednesday, blaming disappointing sales of its newly launched cheapest smartwatch Versa Lite, sending its shares tumbling as much as 16% to a record low.
U.S. and Chinese negotiators ended a brief round of trade talks on Wednesday with little sign of progress and agreed to meet again in September, prolonging an uneasy truce in a year-long trade war between the world's two largest economies.
Asian shares were set to open significantly lower on Thursday as the U.S. Federal Reserve poured cold water on market expectations of a lengthy easing cycle after delivering a 25-basis-point cut.
The Dow and S&P 500 suffered their biggest daily percentage drops since May 31 on Wednesday after the Federal Reserve cut interest rates for the first time in a decade, but remarks by Fed Chair Jerome Powell dampened expectations for further cuts going forward.
The U.S. Federal Reserve's decision on Wednesday to lower interest rates may do little to cut some of the costs that matter to many consumers.
U.S. President Donald Trump's repeated calls for easier monetary policy may not be what drove the Federal Reserve to cut interest rates on Wednesday.
The Federal Reserve cut interest rates on Wednesday to shore up the economy against risks including global weakness, but the head of the U.S. central bank said he did not view the move as the start of a lengthy series of rate cuts.
Two of the biggest U.S. banks, JPMorgan Chase & Co and Citigroup Inc , on Wednesday lowered their benchmark rates for a wide range of consumer and commercial loans, following a rate cut from the Federal Reserve.
Wall Street turned negative after Federal Reserve Chairman Jerome Powell in a press conference after the Fed announced its first rate cut since 2008 characterized it as a mid-cycle policy adjustment, adding that the decision was different from the beginning of a lengthy cutting cycle.
