"Market Update: US Stocks Drift Lower as Tesla Sales Plunge"
TL;DR Summary
US stocks slipped as investors await Federal Reserve Chair Jerome Powell's speech for clues on interest rates, with the S&P 500 falling 0.1% and the Nasdaq down almost 0.4%. Atlanta Fed President Raphael Bostic expects the first interest rate cut to come in the fourth quarter. JPMorgan analyst cuts Tesla's price target due to lackluster deliveries report, while Intel shares fell around 5% after reporting sharper operating losses at its foundry business.
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