Bloomberg Market Wrap 7/29: Uber, Lyft and All Eyes on Fed

The video discusses recent market developments, focusing on Uber's decision to cut 400 jobs in its marketing unit and Lyft's CEO departure, impacting their stock prices. It also covers expectations around the Federal Reserve's potential interest rate cuts and their implications on the market, highlighting the correlation between Fed funds future yields and the S&P 500.

Describe the correlation observed between the Fed funds future yield and the S&P 500.

What challenges does Fed Chair Jerome Powell face in maintaining market stability?