Dow Opens Higher Ahead of Powell's Jackson Hole Speech
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Investors will be closely eyeing Powell's speech in Jackson Hole on Friday to see if the Fed chair hints at a potential rate cut at the central bank's next meeting.
Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
U.S. stock market futures were mixed Friday ahead of a pivotal speech from Fed Chair Jerome Powell in which the central bank chief will set out his views on where to take interest rates. Dow Jones Industrial Average futures rose 60 points,
Dow Jones futures fall by 0.11%, trading around 44,950, along with the S&P 500 futures and Nasdaq 100 futures steady around 6,400 and 23,300, respectively, during European hours on Thursday ahead of the opening of the North American session.
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.
S&P 500 futures are down 0.3%. Dow Jones Industrial Average futures are dipping 0.3%. Nasdaq 100 futures are slipping 0.4%. On Tuesday, the Dow Jones Industrial Average rose 10 points, or 0.02%, to 44922,
Fed minutes are due, and top retailers will report earnings in the coming week. But the main attraction will be Jerome Powell's speech on Friday.
Economists expect the US headline inflation to have grown at a faster pace of 2.8% on year, against a 2.7% increase in June. In the same period, the core CPI – which excludes volatile food and energy prices – rose by 3.0%, faster than the prior reading of 2.9%.
The blue-chip Dow Jones ended higher after hitting an intraday record high on Friday, as UnitedHealth's shares jumped after Berkshire Hathaway raised its stake, but other Wall Street indexes slipped as mixed data clouded the Federal Reserve's next monetary policy move.
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