Stocks rebounded from a two-day selloff and the Dow Jones Industrial Average set a new intraday record as the Federal Reserve convened for its June meeting. The FOMC is widely expected to hike interest rates for the second time this year. Cheesecake Factory (CAKE) tumbled after lowering its second-quarter forecasts, blaming an uncertain consumer and volatile week-to-week sales trends. The chain now expects same-restaurant sales to fall by roughly 1%, a surprise to analysts expecting a rise. Sears (SHLD) has announced plans to cut 400 jobs. That is part of previously announced strategic restructuring plans designed to reduce annual costs by $1.25 billion. Verizon (VZ) has officially closed its deal to acquire Yahoo!'s core internet assets. Yahoo will combine with Verizon's AOL to form a new media company.