Federal Reserve, Wall Street and Jerome Powell
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The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell will hint that an interest rate cut is coming soon.
The central bank's annual conference in Jackson Hole, Wyoming, kicks off on Friday, with Chair Jerome Powell expected to speak, remarks that will be closely watched for policy signals. Investors have been pricing in a 25-basis-point rate cut in September, according to data compiled by LSEG.
Wall Street ended lower on more declines in technology stocks, but the market pared its losses in the afternoon.
Wall Street shares dropped on Wednesday, with a tech selloff extending into a second day, while a key meeting of central bankers later this week remained in focus for currency and rates traders.
The Dow Jones Industrial Average was flat at 44,938.31. Read more at straitstimes.com. Read more at straitstimes.com.
Dow futures slipped slightly on Wednesday as investors adopted a cautious stance ahead of Federal Reserve Chair Jerome Powell’s upcoming remarks at the Jackson Hole Symposium.
Shares on Wall Street dropped for a second successive day on Wednesday as weakness in the tech sector persisted while a key meeting of central bankers later this week remained in focus for currency and rates traders.
Wall Street's main indexes declined on Wednesday and the Nasdaq hit a two-week low as a rally in technology stocks cooled and caution prevailed ahead of the Federal Reserve's highly anticipated Jackson Hole symposium later this week After driving much of the market's recovery from the April selloff,