It’s a big day on Wall Street. The Federal Reserve will announce its decision on interest rates and release its latest Summary of Economic Projections, which includes officials’ outlook for where they think rates are headed. The announcement will be followed by Chair Jerome Powell’s press conference. After the bell, the focus shifts to Micron which will be releasing its second quarter results. Trending tickers on Yahoo Finance include Chipotle Mexican Grill , Intel , PDD Holdings .2:15 p.m.
-- Crypto exchange BitMEX said it is investigating unusual trading activity, including possible misconduct, that led to a flash crash in Bitcoin on its platform yesterday.
Chinese regulators have accused Evergrande and its founder of inflating revenues by $78 billion, putting the insolvent property developer at the heart of the country’s biggest ever financial fraud case.The California-based company said the stock split was subject to shareholder approval at its upcoming annual meeting on June 6. If approved, shareholders of record as of June 18 will get 49 additional shares for each share held.
HONG KONG — Asian markets were mostly higher Wednesday ahead of expected guidance by the Federal Reserve on the timing of its cuts to interest rates. Oil prices and U.S. futures fell. Japan’s markets were closed for a holiday. On Tuesday, the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, raising the rate to a range of zero to 0.1% from minus 0.1%. The U.S.
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