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Stock market today: US stocks edge lower after 8-day winning streak

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Jerome Powell Nyheter

The Federal Reserve,Interest Rates,Nasdaq Composite

Markets are marking time as anticipation builds for Fed Chair Powell's speech at Jackson Hole, expected to usher in a rate cut.

Stocks on Wall Street opened slightly lower on Tuesday after notching their longest rally this year, amid optimism that Jerome Powell will signal the Federal Reserve is open to a deeper cut when it starts lowering interest rates. The S&P 500 hugged the flatline, coming off an eight-strong run of daily wins for the benchmark index — its longest since November. The Dow Jones Industrial Average also traded flat, while the tech-heavy Nasdaq Composite dropped about 0.1%.

Stocks have made a strong comeback from an early August rout as fresh economic data bolstered the case for the central bank to start lowering rates sooner — and maybe further — than previously thought. Wall Street expects Powell to set the stage for a September rate cut in dovish remarks on Friday, now that several Fed officials have given their blessing to easing. The debate now is whether a 0.

 

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