Market Overview - U.S. stocks experienced a third consecutive loss, with the S&P 500 falling 0.5%, marking its longest losing streak in over a month. The Dow Jones Industrial Average dropped 173 points (0.4%), and the Nasdaq composite also sank 0.5% [1][13] Economic Indicators - Reports indicated that the U.S. economy may be stronger than previously anticipated, which could reduce the likelihood of the Federal Reserve cutting interest rates multiple times in the coming months [2][4] - A stronger economy could diminish the Fed's urgency to cut rates, especially given the risk of exacerbating already high inflation [4][5] - Recent economic data showed fewer unemployment claims, suggesting a slowdown in layoffs, and the economy grew faster than earlier estimates during the spring [6][7] Company Performance - CarMax's stock plummeted 20.1% after reporting weaker-than-expected profits and a decline in vehicle sales compared to the previous year [8] - Jabil's stock fell 6.7% despite reporting stronger profits driven by AI demand, as it had already seen a significant gain of 56.6% for the year [9] - Oracle's stock decreased by 5.6% after a significant rise earlier in the month due to AI-related contracts [10] - IBM's stock rose 5.2% following a successful quantum computing trial with HSBC, which improved trade prediction accuracy by up to 34% [11] - KB Home's stock fluctuated but ultimately dipped 0.6% after reporting stronger-than-expected profits, with the CEO noting easing mortgage rates could attract more buyers [12][13]