NEW YORK — Stocks are rising in early trading, but investors will be closely watching a speech by the Federal Reserve Friday morning. The S&P 500 was 0.4% in the early going, coming off its worst loss in three weeks. The Dow was up 180 points and the Nasdaq composite was up 0.5%. The day’s headliner is Fed Chair Jerome Powell, who is giving a speech at an annual event that’s been the site of big policy announcements.
The Federal Reserve has already raised its main interest rate to the highest level since 2001 in hopes of grinding down high inflation. High rates work to do that by slowing the entire economy and hurting prices for investments. Japanese inflation eased to 2.9% in August from the previous year, largely because of lower energy prices, according to government data. The consumer price index, excluding fresh food prices, rose 2.8% from the previous year, the gains easing for the first time in two months.
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