Futures for the S&P 500 slipped 0.2 per cent before the bell, while the Dow Jones Industrial Average was up 0.1 per cent and could extend its longest winning streak since 2019.
Discover Financial slid more than 12 per cent after it disclosed that it was working with regulators to resolve an accounting error dating back to 2007 that misclassified some credit card accounts. It also said it was suspending share buybacks while it conducts an internal review. Later Thursday, the railroad CSX and Philip Morris report financial results from their most recent quarters.
Most economists are forecasting that the Fed gets back to raising rates when it meets next week, after pausing in June for the first time in 15 months. Markets have been optimistic that it will be the Fed's last rate increase this cycle. Recent data have shown inflation at its lowest point since early 2021 -- 3 per cent in June compared with a year earlier -- and much closer to the Fed's target of 2 per cent.
Exports rose only 1.5 per cent from a year earlier despite sharp increases in shipments of vehicles as supply chain problems eased. Economists say they anticipate weaker exports in coming months as demand in other major economies slows.
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