Economic indicators

A disappointing read from the ADP employment report overshadowed a positive read on the service sector, and the markets upped expectations for rate cuts through next year.

The St. Louis Fed's James Bullard and the San Francisco Fed's Mary Daly said economic conditions may justify lower interest rates.

An uptick in inflation may be a sign that Federal Reserve Chair Jerome Powell was right when he said a dip in prices could be brief, allowing patience on rates.

A decline in pending home sales and a widening trade deficit suggest growth will slow this year.

The markets have priced in a Federal Reserve rate cut this year, with the likelihood of a September reduction rising to 62% on Wednesday from a 50-50 shot on Tuesday and about a 91% of a 25 basis point cut by yearend.

Softness in consumer spending may be ending, which would increase gross domestic product.

A 2.1% drop in durable goods orders shows businesses are holding off on equipment purchases as trade tensions with China increase.

Analysts homed in on the phrase “some time” and the absence of rate cut discussion in the minutes of the last Federal Open Market Committee meeting..

Trade issues with China should end with a deal, leaving the U.S. economy mostly unscathed, the Federal Reserve Bank of Boston president said.

Two Federal Reserve Bank presidents discussed how trade policy is effecting the economy; neither seemed ready to cut interest rates.