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Dow Experiences Longest Losing Streak Since 1978, Fed Rate Cut Expected, Nissan and Honda in Merger Talks

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FED,Dow Jones,Rate Cut

The Dow Jones Industrial Average recorded its ninth consecutive day of losses, marking its longest losing streak since 1978. Despite this, the broader market remains relatively strong. Wall Street anticipates another quarter-point rate cut by the Federal Reserve, with futures traders expecting a target range of 4.25% to 4.5%. Congress faces a looming government shutdown deadline while Nissan and Honda reportedly engage in merger talks that could create a major automotive player.

A big Fed decision is coming Wednesday.1. n in the dumpsnotched its ninth straight day of losses on Tuesday. It's the index's longest losing streak since 1978 and notably comes at a time when the broader market is faring just fine. Though theboth lost some ground on Tuesday, both averages are up for the month, while the Dow is down more than 3%. CNBC explainsand Wall Street is betting on another quarter-point haircut.

Makoto Uchida , president and CEO of Japanese auto maker Nissan, shakes hands with Toshihiro Mibe , director, president and representative executive officer of auto maker Honda, following a press conference in Tokyo on August 1, 2024.. The companies are preparing to enter negotiations that could result in the competitors coming together under a holding company. The combined operation would amount to 8 million vehicles sales annually, according to Nikkei, which first reported the merger talks.

How to manage 2 ‘core' emotions that can sabotage your salary negotiations, from a coach with 20 years experience – CNBC's Brian Evans, Samantha Subin, Yun Li, Jeff Cox, Michael Wayland and Dan Mangan, and NBC News contributed to this report.

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