5 things to know before stock markets open on Thursday

Here are the most important news for investors to start their trading day:

After a sell-off earlier this month fueled by fears about the economy, markets were mostly steady. The three major U.S. averages rose again on Wednesday as investors awaited an interest rate cut at the Federal Reserve’s September meeting. All eyes will turn to Federal Reserve Chairman Jerome Powell’s comments at the central bank’s Jackson Hole conference on Friday for clues on how big the interest rate cut could be. The S&P 500 And Nasdaq Thursday posted their ninth positive session of 10 Dow Jones Industrial Average It was the sixth winning day in seven days. Follow live market updates here.

An interest rate cut in September looks certain. Minutes from the July meeting of Federal Reserve policymakers signaled that the central bank would “probably” ease monetary policy if economic data continues as expected. Several central bank officials appeared confident that inflation would ease toward the bank’s 2% target, and others noted a weakening labor market. Minutes from the central bank meeting were released hours after the Labor Department said the U.S. economy created 818,000 fewer jobs than initially reported in the 12 months to March. Although the numbers still paint a picture of solid employment growth, they added fuel to expectations that the central bank will soon cut lending rates.

Across the U.S. automobile industry, companies are scaling back electric vehicle ambitions. The latest move came on Wednesday Ford It said it is delaying production of an electric truck at a new plant in Tennessee and dropping plans for a three-row electric SUV. The Detroit automaker said it will focus on hybrid models and commercial electric vehicles, a move that CFO John Lawler Ford said will “allow us to focus on areas where we have a competitive advantage.” The company said it will take a $400 million non-cash charge in connection with the move.

Paramount Global‘s takeover saga is not over yet. The company has extended the window for receiving competitive offers for its merger agreement with Skydance by 15 days. The move comes as the company reviews a bid by media executive Edgar Bronfman Jr. Paramount agreed to merge with Skydance in July after months of negotiations.

PelotonThe twist is starting to take hold. Shares of the connected fitness company surged after it said it would significantly reduce losses in its fiscal fourth quarter and focus on profitability over growth in the coming year. Peloton saw sales growth for the first time since the 2021 holiday quarter — only marginally — and the results come amid a shift in the fitness industry as Peloton and competitors focus more on strength training to meet changing consumer habits.