Goldman Sachs lowers US Q2 GDP growth forecasts - Reuters

The investment bank Goldman Sachs has lowered its forecast for the US second-quarter (Q2) gross domestic product (GDP) growth to 1.1% from 1.3%, courtesy of an expanding scope of the trade war with China, according to Reuters. 

Goldman Sachs also sees a rising chance of Federal Reserve rate cut but feels the probability is not strong enough to pencil rate cuts into its baseline forecasts.