Investing.com-- The S&P 500 started August under heavy pressure on Thursday as softer economic data placed recession fears back in the spotlight.Initial jobless claims increased to 249,000 for the week ended in Jul. 27, higher than expected, while the ISM manufacturing index for July came in at 46.8, below the 48.2 forecast.
The duo of reports added to concerns about an economic downturn even as the Federal Reserve is expected to lower interest rates next month. TheThe Fed on Wednesday kept {{ecl-168||interest rates unchanged}, but chairman Jerome Powell signaled that a September rate cut was on the table should upcoming economic data incluiding the monthlyThe results showed that its investments into AI to improve the efficacy of its target ads are starting to bear fruit.
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