Powell’s Jackson Hole Signal on Rates Is Good for Just 1 Cut
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Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
U.S. stocks closed higher, with the Dow scoring a record high, after Fed Chair Powell suggested it was time to consider rate cuts again.
The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
The Nasdaq and S&P 500 slid on Tuesday driven by tech stocks, as investors gear up for what Federal Reserve chair Jerome Powell will say about the path of interest rates at a key conference later in the week.
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By Elizabeth Howcroft PARIS (Reuters) -European stock markets fell slightly in early trading on Thursday, hovering just below recent highs, as traders avoided making big moves and waited for the Federal Reserve's three-day annual Jackson Hole symposium.