The Federal Reserve lowered its benchmark interest rate by 0.25 percentage points on Wednesday, its second cut this year. The move reduces the federal funds rate to a range of 3.75% to 4%, down from 4% to 4.25%. The Fed said “downside risks to employment rose in recent months,” citing slower job growth. Inflation remains at 3%, still above the Fed’s 2% target. (Story URL)
Uber announced Wednesday that it will introduce autonomous taxi service in the San Francisco Bay Area next year. The program is part of a partnership with electric vehicle maker Lucid Motors and self-driving technology company Nuro. They expect to deploy about 100 robotaxis in the coming months, while Uber aims for 20,000 within six years. No exact launch date was announced. (Story URL)
At least 104 people were killed in Gaza after Israeli airstrikes followed the death of an Israeli soldier. The Gaza Health Ministry said 46 children and 20 women were among the dead, with 253 others injured. Hospitals across Gaza reported dozens of victims, including 13 children and two women. President Trump said Israel had the right to respond but insisted the cease-fire was intact. (Story URL)
Nvidia has become the first publicly traded company to reach a $5 trillion market value, fueled by investor optimism in artificial intelligence. Its shares climbed $9.08, or 4.5%, to $210.11 in early trading Wednesday, pushing its capitalization to $5.1 trillion. The milestone comes less than four months after Nvidia hit $4 trillion in July. (Story URL)
The ongoing U.S. government shutdown is reducing economic output by about $7 billion each month. The Congressional Budget Office projected real GDP losses of $7 billion for a four-week shutdown, $11 billion for six weeks, and $14 billion for eight weeks. Most of the decline will be recovered after the government reopens, but between $7 billion and $14 billion will be permanently lost. (Story URL)
