Powell signals Fed easing as inflation cools and jobs wary
Fed officials grow confident inflation nears 2 percent target while hiring slows and unemployment edges up. Powell is expected to hint at future rate cuts in Jackson Hole, with markets pricing three quarter-point cuts later this year as mortgage rates drift lower.
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Wall Street slips and breaks winning streak
Wall Street posted a lower day with the S&P 500 down 0.2 percent and the Dow sliding 61 points while the Nasdaq dipped 0.3 percent. Nvidia fell 2.1 percent as Palo Alto Networks rose 7.2 percent driving mixed results for S&P 500 earnings. Hawaiian Airlines merger talks advanced as Alaska Airlines’ parent company eyed a major regulatory hurdle.
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Safety orders force 787 cockpit seat inspections nationwide
FAA requires inspections of Boeing 787 Dreamliner pilot seats for missing caps covering seat move switches after a Latam Airlines incident where the captain’s seat lurched and autopilot was disconnected, causing a 400 foot drop. Boeing advised checks and power shutoff procedures. four additional reports of unintended seat movement were filed.
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Small business owners show optimism despite costs
Surveys find American Express and NFIB data showing modest gains in small business morale at mid 2024. Executives cite creativity and growing confidence, while inflation and labor costs stay top challenges for 31 straight months below long run averages.
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