Market Overview - Stock prices experienced a decline, with the S&P 500 index falling by 0.6%, the Nasdaq Composite decreasing nearly 1%, and the Dow Jones Industrial Average dropping by 0.2% [3] - The decline in stock prices followed a period of record highs earlier in the week, influenced by Fed Chair Jerome Powell's cautious stance on interest rate reductions [4] Federal Reserve Insights - Jerome Powell expressed concerns regarding persistent inflation and a slowing labor market, describing the current economic situation as "challenging" [4] - Investors are anticipating a potential second interest rate reduction in 2025 during the Fed's October meeting, although Powell did not confirm this expectation [4] Economic Indicators - Upcoming economic reports include new residential housing sales for August, with analysts predicting a slight dip to 650,000 from July's 652,000 [6] - Cintas Corporation is expected to report an EPS of $1.20 for the August quarter, an increase from $1.10 in the prior year [6] - Uranium Energy is projected to report a loss per share of $0.04 for the July quarter, compared to a $0.03 loss in the previous year [6] - KB Home aims to exceed a consensus EPS estimate of $1.51 for the August quarter, down from $2.04 in the prior year [6]