The Dow closed higher after meandering during Powell's speech. The central bank indicated it will steadily cut rates for the rest of the year as policymakers signaled concerns about weakness in the labor market. The Fed projected two more quarter-percentage-point cuts this year. In a press conference, Powell talked about the mounting downside risks of employment compared to inflation, but said inflation risks still must be assessed and managed. This "Powell tempered some of the initial enthusiasm in the m ...

At 2:08 p.m. ET, the Dow Jones jumped 450.24 points, or 0.98%, to 46,208.14, the S&P 500 rose 7.91 points, or 0.12%, to 6,614.70, while the Nasdaq slipped 57.05 points, or 0.26%, to 22,276.91. "Cutting rates while inflation is still running ahead of their target suggests that they (the Fed) are concerned with the health of the economy and employment backdrop," said Todd Basnight, director of equity research at Aureus Asset Management. "But, given the narrowness of the market year-to-date, it ( Meanwhile, N ...

Justin Sullivan / Getty Images Workday shares were down 15% in 2025 coming into Wednesday's trading session. Key Takeaways Activist investor Elliott Investment Management said it has taken a stake worth more than $2 billion in Workday. Elliott praised the management team of the human resources software provider and the strategy the company spelled out during its recent analyst day. Workday shares were up more than 8% in early trading. Workday (WDAY) shares jumped in early trading Wednesday after a ...

Human resources software provider Workday said on Tuesday it would acquire artificial intelligence firm Sana for about $1.1 billion. ...