News Formal

Stock market today: S&P 500, Nasdaq snap 8-day winning streak as focus turns to Jackson Hole

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 21 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Nasdaq Composite News

Jackson Hole,Chair Powell

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

Markets took a breather on Tuesday to snap their longest rally this year, with all three major indexes closing in the red as the focus shifts to Fed Chair Powell's speech at Jackson Hole later this week. The S&P 500 dropped about 0.2%, coming off an eight-strong run of daily wins for the benchmark index — its longest since November. The Dow Jones Industrial Average also shed around 0.2%, or less than 100 points, while the tech-heavy Nasdaq Composite fell roughly 0.3%.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: US stocks steady as countdown to Jackson Hole beginsInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US futures steady as countdown to Jackson Hole beginsStocks traded on both sides of the flat line on Friday after a strong week of gains had US stocks on pace for their best week of the year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500 eyes a return to its longest win streak this yearMarkets are marking time as anticipation builds for Fed Chair Powell's speech at Jackson Hole, expected to usher in a rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq notch longest win streaks of 2024 as August turnaround continuesInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow rises 200 points, S&P 500 advances as wait for Powell beginsInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq, Dow rise as wait for Powell beginsInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »