A September rate cut would come shortly before another major economic event: the US presidential election.
Dan Wetzel, Ross Dellenger, and SI's Pat Forde unpack the latest update on the House v. NCAA case, react to Twitter beef happening at Colorado, and the worst Kentucky Derby names ever.
Carvana's results come as high interest rates prompt consumers to look for deals on second-hand cars instead of buying new ones. The used-car retailer said it was expecting a sequential increase in adjusted core profit and growth rate in retail units in the second quarter, while analysts expected a 2.6% fall in retail sales from a year earlier. The company reported a first-quarter profit of $49 million, compared with analysts' estimates of $31.2 million, according to LSEG data.