NEW YORK — U.S. stocks are ticking higher Thursday as Wall Street counts down to what’s supposed to be the main event of the week, a speech by Federal Reserve Chair Jerome Powell coming on Friday.
Treasury yields were also ticking higher in the bond market despite a report showing slightly more U.S. workers applied for unemployment benefits last week than expected. Worries have been rising about the strength of the economy, which has been slowing under the weight of high interest rates meant to get inflation under control.
That’s why so much attention is on Jackson Hole, Wyoming, where Powell will be speaking Friday at an annual economic symposium that’s been home to big policy announcements by the Fed in the past. The hope is Powell will give some clues about how quickly and deeply the Fed may cut rates to ease conditions for the economy.
Agilent Technologies rose 1.9% after delivering both profit and revenue for the latest quarter that topped analysts’ forecasts. CEO Padraig McDonnell said market conditions continued to be challenging for the company, which sells instruments and software for laboratories, but “we saw steady signs of improvement as anticipated.”
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