Morning Business Report: Federal meetings begin, bankruptcy filing, stock market rally
(LILAMAX)- The Federal Reserve kicks off a two-day policy meeting today, where officials will review inflation trends, economic data, and geopolitical developments. While interest rate cuts will be discussed, economists widely expect the Fed to hold steady for now—despite pressure from President Trump to lower rates. A pause means short-term interest rates, including those for credit cards and auto loans, will likely remain unchanged.
In the retail sector, At Home, a popular home goods chain with 260 stores across 40 states, has filed for bankruptcy. The company cited rising tariffs and weakening consumer spending as key factors. For now, stores will remain open, with $200 million in financing secured to help restructure operations.
On Wall Street, stocks surged Monday following reports that Iran may be open to talks aimed at ending its war with Israel. The Dow Jones Industrial Average jumped 317 points, and oil prices dropped as fears of a broader regional conflict eased.
Pharmaceutical giant Eli Lilly announced it will begin shipping the two highest doses of its weight-loss drug Zepbound directly to customers in early August. The 12.5 mg and 15 mg doses will be sold in single-dose vials for $499 or less per month, regardless of insurance coverage, making all approved dosages available online.
A new study highlights financial secrecy in relationships. According to research by Talker Research, commissioned by Beyond Finance for Men’s Mental Health Month, half of men surveyed admitted to keeping financial secrets from a partner. The most common: a hidden savings account. Others reported concealing spending habits, credit cards, or lines of credit. Nearly half of respondents said the pressure to be financially successful contributes to this secrecy.
