Following a solid stock week, the Federal Reserve is widely expected to cut interest rates on Wednesday. Traders are pricing in a 59% chance that the central bank will cut its target rate by 0.5 percentage points. The critical decision comes after the S&P 500 gained about 4% last week while the Nasdaq climbed nearly 6%.
The Dow rose 2.6%. Republican presidential nominee Donald Trump was safe Sunday after what the Federal Bureau of Investigation called an apparent assassination attempt. The former president was playing at his Florida golf club when U.S. Secret Service officers “opened fire on a gunman located near the property line” of the course, Special Agent Rafael Barros said at a press conference.
The incident is the second apparent assassination attempt on Trump in recent months during the 2024 presidential election. Pfizer released positive trial data for its treatment called ponsegromab, which could become the first drug approved to treat cancer cachexia specifically.
fed to cut interest rates
The life-threatening condition causes cancer patients to lose their appetite and weight and affects about 9 million people worldwide. Patients who took the treatment saw improvements in their body weight, physical function, and quality of life. Prices could rise for Shein and Temu shoppers.
The Biden administration proposed a rule to curb a tariff law loophole that both popular Chinese-linked online retailers have used to minimize their import duties. Both companies have said their low prices are not reliant on the loophole, and Shein has said it supports reform of the de minimis provision. DirecTV reached a deal with Disney on Saturday to end a blackout of the media giant’s channels, including ESPN.
The agreement allows DirecTV to offer customers multiple genre-specific options, such as sports and kids’ content, and to offer Disney’s streaming services in its packages or a la carte. The blackout lasted through the U.S. Open, college football games, and the NFL season’s opening “Monday Night Football” matchup.
