Markets fell after mixed corporate earnings and ahead of the Federal Reserve's meeting minutes, with investors looking for signs of a potential rate cut by September. U.S. employers added just 73,000 jobs in July, and revisions for May and June reduced payrolls by 258,000, prompting arguments for lower interest rates. Federal Reserve governor Michelle Bowman said rates should be lower after the weak jobs report and supported at least three rate cuts this year, with three central-bank meetings remaining in 2025. Target reported an EPS beat and revenue beat but comparable sales declined 1.9%, shares dropped over 10%, and CEO Brian Cornell is stepping down. Palantir, after an earlier AI-driven surge, experienced sharp declines.
"A notable deterioration in U.S. labor market conditions appears to be underway,'' said Scott Anderson, chief U.S. economist at BMO Capital Markets, as quoted by the Associated Press.
"Target's latest quarter reflected its ongoing struggles. Its net income fell to $9
" The Next Nvidia"
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