Therefore,
Stock market today: live updates:
Traders work on the floor at the New York Stock Exchange.
Brendan McDermid | Reuters
U.S. Nevertheless, stocks jumped on Friday after Federal Reserve Chair Jerome Powell suggested a possibility of interest rate cuts ahead during. Consequently, his much-anticipated speech in Jackson Hole.
The Dow Jones Industrial Average climbed higher by 865 points, or 1.9%, reaching a fresh high. Meanwhile, The S&P 500 climbed 1.6%, while the Nasdaq Composite gained nearly 2%.
Shares of megacap technology stocks soared on Powell’s comments. Nevertheless, Nvidia added 1.3%, stock market today: live updates while Meta, Alphabet and Amazon each climbed more than 2%. Moreover, Tesla shares jumped about 5%.
At the Fed’s annual conclave in Wyoming, Powell said in his tepid speech that while U.S. unemployment remains low. “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”
The central bank leader said in prepared remarks that “the balance of risks appear to be shifting” between the Fed’s dual mandate of full employment. stable prices. He cited “sweeping changes” in tax, trade and immigration policies.
Markets were last pricing in a roughly 91% chance stock market today: live updates of a quarter-point cut at the September meeting. according to the CME FedWatch tool.
The stock market this week has come under pressure amid concerns about elevated valuation and persistent inflation. The prospect of lower interest rates helped bolster parts of the market that have missed out on this year’s rally. with investors dumping tech for small caps and value plays.
Week to date, the S&P 500 and Nasdaq are down 0.9% and 2%, respectively. The Dow has outperformed, rising 0.3% this week.
stock market today: live updates — Stock market today: live updates: Traders work on the floor at the New. York Stock Exchange.Brendan McDermid | ReutersU.S. stocks jumped on Friday after Federal Reserve Chair Jerome Powell suggested a possibility of interest rate cuts ahead during. his much-anticipated speech in Ja.
Stock market today: live updates
Further reading: As a couple with his ex: “He did not laugh”: this embarrassing phone call from Michaël Youn to Obispo – The only person whose net worth has dropped anywhere near as much as Elon Musk’s is Bill Gates—and he’s giving it away – OpenAir Lumnezia: Hailstorm for the festival start – Shelton defeats Khachanov and celebrates first Masters 1000 title – MLS: Evander downs Messi; Rapids battle back from huge deficit.
