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Global equity markets mostly faltered on Wednesday as investors await fresh inflation data to better assess the likelihood of Federal Reserve interest rate cuts, while the dollar edged higher on expectations of U.S. economic out-performance. European stocks rose to a record high, boosted by company earnings, but stocks on Wall Street slid as a downbeat forecast from Uber knocked its shares down 5.7% and made the ride-hailing firm one of the biggest decliners on the S&P 500.
Rivian reported mixed quarterly results for the first quarter, but will see further cost savings from shifting its upcoming R2 production to its Normal, Ill., plant and trimming its capital expenditure forecast.