Wall St Muted After Fed Chair Warsh’s Speech; AI Rally Cools
Investors awaited Kevin Warsh's Jackson Hole speech as futures stayed little changed, with CME FedWatch pricing a 64% chance of steady rates next month.
- On Thursday, Nvidia shares jumped 8.7% after the company's robust earnings forecast, pushing the S&P 500 and Nasdaq Composite to their best day since August 4.
- Salesforce surged 22.6% and CrowdStrike climbed 20.5% following earnings beats, while the S&P 500 Information Technology sector rose 3.4% as the best gainer among 11 constituents.
- Policy uncertainty grew after a hotter-than-expected Personal Consumption Expenditures reading on August 26, with traders now focused on Federal Reserve Chairman Kevin Warsh's address at Jackson Hole on Friday.
- Natalia Lojevsky, managing director at CIFC Asset Management, noted "Investors have very little history with how he talks," as Fed funds futures price in a roughly 64% likelihood of steady rates next month.
- Morgan Stanley estimated Nvidia revenue growth at 52%, below the company's 70% forecast, though Nvidia warned that memory component shortages could curb the pace of industry growth.
37 Articles
37 Articles
The New York stock market opened mixed ahead of Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium. With recent inflation indicators mixed, a wait-and-see sentiment intensified as investors sought to gauge the Fed's future monetary policy direction. At 9:34 a.m. local time on the 28th, the Dow Jones 30 Industrial Average on the New York Stock Exchange was up 109.98 points (0.21%) from the previous trading day to 53,679
(Seoul = Yonhap News) Reporter Yoon Jung-won, Yonhap Infomax = The three major stock indices of the New York stock market are [confused] as they await Federal Reserve Chair Kevin Warsh's Jackson Hole speech...
US stock market today: Wall Street futures edge lower as investors await Kevin Warsh's Jackson Hole speech
US stock futures showed mild losses on 28 August as traders awaited signals on Federal Reserve policy from the Jackson Hole symposium. Nvidia and Salesforce's strong performances sparked optimism, while Treasury yields rose amid solid job market reports and concerns of another Fed rate hike.
Wall St muted after Fed Chair Warsh’s speech; AI rally cools
By Purvi Agarwal and Niket Nishant Aug 28 (Reuters) - Wall Street's main indexes were muted on Friday after Federal Reserve Chair Kevin Warsh reiterated his focus on bringing inflation back to the central bank's 2% target, while an AI-fueled rally from...
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