Overview

• U.S. stocks fell Thursday, with the S&P 500 down 0.40% and both the Dow and Nasdaq off 0.34%, as large‑cap technology shares extended a pullback.
• CME FedWatch still shows most traders leaning toward a September rate cut, though the implied probabilities eased compared with Wednesday.
• Cleveland Fed President Beth Hammack said she would see no reason to cut rates if the meeting were held now, citing persistent inflation.
• U.S. data signaled the fastest private‑sector growth since December and a July rise in existing home sales, while weekly jobless claims increased to 235,000.
• Benchmark 10‑year Treasury yields edged up to about 4.33%, and European equities were little changed into Friday, with chips pressured by reports of potential Chips Act equity stakes and tech sentiment cooled by skepticism over AI investment returns.