US EditionFed Chair Jerome Powell to Give Jackson Hole Speech as Traders Await Cues on US Monetary Policy
Investors are cautious amid inflation concerns and mixed data, with market-implied probabilities for a September rate cut falling from over 90% to around 74%, analysts said.
- Friday, the S&P 500 slid for a five-day streak as investors braced for Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Policy Symposium.
- FOMC minutes showed most Federal Reserve officials see inflation risks outweighing labor-market weakness, while weekly jobless claims climbed and rising short- and long-term Treasury yields trimmed September interest rate cut expectations.
- Sector data showed the Nasdaq index was hit harder by tech volatility, while the S&P 500 index sits about 1.5% below its record high as gold rose to $3,340.29 and silver hovered around $38.14 per ounce.
- Powell's words will determine the S&P 500 short-term outlook, as a dovish tone could support equities while hawkishness may extend the correction amid rising bond yields.
- Market-Implied odds show probabilities for a September rate cut fell from over 90% to around 74%, while the medium- to long-term outlook for the U.S. economy and Fed actions remains constructive.
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All eyes on Jackson Hole
Jerome Powell, the chairman of the Federal Serve Board.Tom Williams/CQ-Roll Call, Inc via Getty ImagesThis post originally appeared in the Business Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.Good morning. A luxury planner told BI the nine ways people are making their weddings look cheap. As a seasoned wedding guest, they're spot on about an open bar.In today's big story, all eyes are on Fed Chair Jerome…
Fed Chair Jerome Powell to give Jackson Hole speech as traders await cues on US monetary policy
Wall Street pointed modestly higher before the bell Friday as markets tried to snap a weeklong losing streak ahead of widely anticipated speech by Federal Reserve Chair Jerome Powell. Futures for the S&P 500 added less than 0.1%, while those for the Dow Jones Industrial Average rose 0.1%. Nasdaq composite futures inched up 0.1%. The S&P 500 has closed lower for five straight days heading into Friday, its longest such streak since January. Nvidia…
Nasdaq Composite Live: Indices Rise Slightly Ahead of Jackson Hole
After a rough few days, the major indices are in the green this morning. Nasdaq futures are up 36. Dow futures are up 124, with the S&P 500 up about 12 points. All as markets wait to hear what Fed boss Jerome Powell has to say about interest rates moving forward. Last checked, there’s now a 75% chance of a quarter-point cut by September. “I think the Fed and what Powell is going to try to articulate and communicate is an explanation and a justif…
Taiwan shares end down ahead of Powell's Jackson Hole speech - Focus Taiwan
Taipei, Aug. 22 (CNA) Shares in Taiwan closed lower Friday as investors anxiously awaited a keynote speech planned by U.S. Federal Reserve Chair Jerome Powell at the annual economic policy symposium in Jackson Hole, Wyoming, later in the day, dealers said.
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