CNBC Top Stories

The Fed's commitment to zero rates and asset purchases was not a surprise, but a somber reminder that the economy could take long to heal.

President Trump opposes a push to take the names of the Confederate leaders off military bases that has gained force after the death of George Floyd in Minneapolis police custody.

Uber had been in talks with Grubhub on an acquisition for about a year and a half but saw the deal slip away from the company in the last few days, sources say.

The merger comes after Grubhub's talks with Uber fell through amid antitrust concerns.

Amazon said on Wednesday that it's putting in place a one-year moratorium on police use of Rekognition.

Nine California counties are reporting a spike in new coronavirus cases or hospitalizations of confirmed cases, some from Memorial Day holiday gatherings and others from prisons and nursing homes.

NASCAR is banning the display of the Confederate flag at all events and properties of the auto racing giant. The decision comes amid ongoing protests of the death of George Floyd in Minneapolis.

"Predominantly African American people are buying those products, so the assumption is we're thieves," said one customer.

Bleakley Advisory Group's Peter Boockvar believes the rally will go on pause when most of the economy reopens.

"No broad-based rally from this level is sustainable without a major scientific breakthrough in the fight against Covid-19," the "Mad Money" host said.

For consumers with good credit, historically low interest rates on mortgages and credit cards are an asset. But riskier borrowers are shut out of the relief.

Check out the companies making headlines after the bell.

A new study from the University of Cambridge used theoretical models to determine the effect of wearing face masks or cloth face coverings on Covid-19 prevention. Their findings suggest that a second wave of the virus could be prevented or at least dampened.

The company that has purchased retailers such as Forever 21 out of bankruptcy is looking for buying opportunities during the coronavirus pandemic. "My strategy is simple. Buy low, sell high," Authentic Brands Group CEO Jamie Salter said.

The Fed also said it will continue to increase its bond holdings, targeting Treasury purchases at $80 billion a month and mortgage-backed securities at $40 billion.

Kudlow's comments came as protests against systemic racism and police brutality have filled U.S. cities of all sizes in recent weeks following the killing of George Floyd.

The Dow fell as investors awaited an update from the Fed on the state of the economy and status of further stimulus from the central bank.

Ford plans to have all-electric versions of the Ford F-150 pickup and Ford Transit van to market by mid-2022.

Uber, which had been in on-and-off deal talks with Grubhub for more than a year, is likely to pull out of those merger talks over antitrust concerns raised about the potential deal.

As the Federal Reserve concludes its most recent policy meeting, some market watchers say investors should tread carefully.