The minutes of the Federal Open Market Committees's April meeting were released Wednesday and a June rate hike remains a possibility. The S&P 500 fell on the news but rebounded by the end of the trading day as monetary policy hawks and doves weighed the probability and impact of another rate increase.
*Dow drops 100 from highs* *Erases hawkish tone for next FOMC meeting*¿ Ramp Capital¿♿️ (@RampCapitalLLC) May 18, 2016
Google (GOOGL) held its annual developer festival, called Google I/O, Wednesday. One of the highlights of the program was the company's launch of Daydream, a virtual-reality platform. Daydream comprises a mix of hardware and software and the company plans to release Daydream-enabled phones and other devices this fall.
While some nervous investors have been fleeing to gold amid market uncertainty, one investor -- or buyer -- laid down $57.5 million for another precious commodity. The 14.6-carat Oppenheimer Blue diamond was sold at a Christie's auction in Geneva on Wednesday.
The Oppenheimer Blue diamond sold for $57.5 million (CHF56,837,000) the most expensive jewel ever sold at auction. pic.twitter.com/yhtcJaU1EP¿ Christie's (@ChristiesInc) May 18, 2016