The Federal Reserve has decided ... to do nothing right now. According to the statement, the pace of improvement in the labor market has slowed while growth in economic activity appears to have picked up. The FOMC believes the federal funds rate warrants only gradual increases, noting that "the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run." The dots have it then.
The dots. pic.twitter.com/FYBABAiaAm¿ Ben Casselman (@bencasselman) June 15, 2016
As the country heals from the massacre in Orlando, JPMorgan Chase (JPM) said it will donate up to $500,000 to the recovery efforts. The firm committed $300,000 to the OneOrlando Fund and will match employee donations dollar-for-dollar up to $100,000 for a total of $200,000. In a statement, JPMorgan Chase said about 3,000 empoyees call the greater Orlando area home and one of the firm's employees died in the attack and others lost family members and loved ones.
Twitter (TWTR) takeover talks were muted Wednesday on news the social media company invested $70 million in music-streaming service SoundCloud. This investment is part of a round that is expected to value SoundCloud at about $700 million, according to a Re/Code report. Shares closed up nearly 4% at $15.96, leading some to wonder what was the reason: takeover or investment? Twitter is a holding in Jim Cramer's Action Alerts PLUS portfolio.
Are Twitter shares up again today because people think it will get bought or because of the SoundCloud investment? Explain yourselves. $TWTR¿ Miriam Gottfried (@miriamgottfried) June 15, 2016
-- Written by Anders Keitz