Stocks Tread Water Ahead of Jackson Hole Symposium
U.S.stocks began the week cautiously, with major indices barely budging. The S&P 500 opened slightly down by 0.1%, while the Dow stayed flat. The tech-heavy Nasdaq rose modestly by 0.2%. These small movements come after a fortnight of strong gains.
This week, all eyes are on the Federal reserve’s Jackson Hole symposium, running from August 21 to 23. Fed Chair Jerome Powell’s speech is particularly anticipated. Powell’s final address before his term ends in May 2026 could offer clues on future interest rates and economic policy.
Investors also await earnings from retail giants like Walmart, Home Depot, and Target. These reports will shed light on how tariffs and inflation are affecting consumer spending.
- Global trade issues remain a concern.
- Geopolitical tensions persist following meetings between world leaders.
Cryptocurrencies echoed the stock market’s subdued tone.Bitcoin, which recently reached an all-time high of over $124k, fell to $114.7k as sellers cashed in profits. This dip influenced related stocks like Strategy and Coinbase, which dropped more than 2% each.
