News

Goldman will buy up to $1 billion in T. Rowe Price common stock through open-market purchases with the intention to own up to 3.5%.

The move comes as tensions between the U.S. and China simmer, and as the Nasdaq faces broader financial market issues.

"Independence of monetary policy is a critical element for its success," Miran said in a prepared statement to the Senate Banking Committee.

"I think we need to start cutting rates at the next meeting," Waller said. "We don't have to go into a lock sequence of steps."

The OnePay launch is the latest example of a fintech firm adding wireless connectivity to its product set; Klarna and Nubank have made similar announcements.  

Russian President Vladimir Putin and North Korea's Kim Jong Un are among the leaders from more than 20 countries attending the "Victory Day" military parade in Beijing.

The Paul Singer-founded Elliott's bet in Pepsi is worth about $4 billion, the Journal reported, citing people familiar with the matter.

Online sales of pickleball paddles and related equipment in China have skyrocketed, according to data from WPIC Marketing + Technologies.

It is unclear if the SCO summit will pave the way for any breakthroughs in easing tensions, though Beijing has sought to cast itself as a global peacemaker.

Politicizing the Fed could have long-term economic consequences, according to former Bridgewater Associates chief investment strategist Rebecca Patterson.

Since taking office in January, Trump has placed the Fed directly in the crosshairs of executive power.

Waller said he believes the Fed can use its power over rates to stave off further labor market weakening. "So, let's get on with it," he said.