A sharp slowdown in the U.S. job market that touched off days of global stock-market turmoil also fueled speculation the Federal Reserve may not wait until its next scheduled meeting.
Read More The Fed has cut rates amid stock swoons before. Not this time
Concerns of an impending recession are noticeably affecting the U.S. stock market, as a majority of stocks have had large sell-offs.
Read More $2.9T ‘Wiped’ From Stock Market, Worst Day Since COVID-19: ‘Recession Fears Mounting’
The Federal Reserve is expected to open the door to interest rate cuts as soon as September by acknowledging inflation has edged nearer to the U.S. central bank’s 2% target.
Read More Fed likely to hold rates steady one last time as inflation fight finale unfolds
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.
Read More US inflation rises moderately, consumer spending cools
Data showed the U.S. economy expanded 2.8% in the second quarter versus estimates of 2%, but inflation subsided, leaving intact expectations of a September rate cut.
Read More Wall Street mixed as investors weigh GDP data after tech mauling
Lyft will implement several safety and governance reforms to settle a shareholder lawsuit regarding drivers sexually and physically assaulting passengers.
Read More Lyft officials settle lawsuit over sexual assaults by drivers