Business Maverick: Big Tech Leads Stocks Higher Before Jackson Hole: Markets Wrap

📆 24-08-22 21:39:00
📰 dailymaverick

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Tech megacaps outpaced the broader stock market, with traders awaiting Jerome Powell’s speech on Friday for clues on how hawkish the Federal Reserve will be in the face of mounting economic challenges.

Kansas City Fed hosts its annual economic policy symposium in Jackson Hole, Wyoming, ThursdayUS personal income, PCE deflator, University of Michigan consumer sentiment, FridayThe Nasdaq 100 rose 0.6%The MSCI World index rose 0.

3%The euro was little changed at $0.9979BondsGermany’s 10-year yield advanced four basis points to 1.36%West Texas Intermediate crude rose 0.1% to $93.84 a barrel–With assistance from Andreea Papuc, Robert Brand and Vildana Hajric.

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Business Maverick: Tech Gets Crushed With Treasury Yields on the Rise: Markets WrapA sobering tone took over Wall Street after a rally that added $7 trillion to the stock market, with traders bracing for hawkish rhetoric from Federal Reserve officials gathering at the annual Jackson Hole retreat later this week.
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