Fed splits ahead of key December meeting as rate-cut debate grows

AARP has raised concerns about the long-term financial viability of Social Security, warning that retirees could face a 23% reduction in monthly payments within the next decade if no action is taken. This alarm comes amid ongoing discussions about the sustainability of the Old-Age and Survivors Insurance trust fund, which is projected to face significant funding challenges without congressional intervention.

Amazon is facing a growing boycott from consumers as the holiday season approaches, reflecting rising discontent over pricing and service issues. This situation poses a significant threat to the company's holiday sales, which are crucial for its annual performance.

Wall Street concluded the trading session on a positive note as expectations for a Federal Reserve interest rate cut in December gained momentum. This optimism was reflected in the performance of major indices, particularly following a rebound in technology stocks after a period of volatility.

Asian stocks have extended their gains for a third consecutive day, buoyed by positive movements on Wall Street as weak U.S. consumer data has increased expectations for a Federal Reserve interest rate cut next month.

Investors are increasingly betting on a Federal Reserve interest rate cut in December, following a shift in sentiment that has emerged over the past week. This change is reflected in the surge of activity in Fed futures, indicating a strong belief that policymakers will act to lower borrowing costs during their upcoming meeting.

A 65-year-old rival to Home Depot has permanently closed its business, reflecting the ongoing struggles within the home improvement and hardware retail sector, which has seen a wave of closures this year. Industry experts predict that this trend will continue through 2025, driven by reduced growth and lower sales projections in the market.

Artificial intelligence (AI) is increasingly becoming a part of everyday business and life, as highlighted by a report from the Reuters Institute for the Study of Journalism at Oxford University. This report indicates a significant shift towards mainstream AI adoption, moving beyond the hype that has surrounded the technology for years.

The Federal Reserve is expected to cut interest rates soon, which could lead to a significant rally in the bond market, providing opportunities for investors to reposition their portfolios. This anticipated move is seen as a response to current economic conditions and aims to stimulate growth.