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Business Maverick: Stocks Drift Sideways After Weak Economic Reports: Markets Wrap

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Stocks struggled for direction, with traders sifting through weak economic data and awaiting more clarity on the Federal Reserve’s monetary policy path from the Jackson Hole central bankers’ symposium later this week.

The S&P 500 swung between gains and losses. The dollar halted a four-day rally, while Treasury 10-year yields dropped below 3%.

contracted for a second straight month, reflecting softer demand at both manufacturers and service providers.event after recent comments from Fed officials convinced many investors the central bank will continue to tighten aggressively, even into a slowing economy.

 

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