U.S. stock futures pointed to a rally Friday morning. On Thursday, the Dow finished slightly positive, while the S&P 500 and the tech-heavy Nasdaq slipped. The Federal Reserve is still expected to take an aggressive tack against rising prices, and is projected to increase rates again in September.

The House on Friday is set to pass the climate, health-care and corporate tax legislation now known as the Inflation Reduction Act. The law is intended to give a boost to the electric vehicle industry, among other items on the climate side, while bolstering Medicare and Obamacare. The bill is far smaller than initial proposals, yet it represents a win for the majority Democrats.

Electric vehicle startup Rivian said it is now expecting a wider loss for the year than it had previously projected. The company, which counts Amazon as an investor, stuck with its forecast of about 25,000 deliveries this year. As of June 30, Rivian had about $15.5 billion in cash on hand.

U.S. Centers for Disease Control and Prevention says there are high levels of immunity in the population. No more testing in schools for people who have no symptoms, CDC says. Unvaccinated people will no longer need to quarantine if they have been exposed to the virus.

Attorney General Merrick Garland says the DOJ has filed a motion to unseal the warrant. Agents reportedly removed several boxes and documents from the resort. The New York Times and The Washington Post, both citing background sources, reported that U.S. officials were looking for sensitive documents with national security implications.
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