August 23, 2019 / By mobanmarket
U.S. stocks are pointing to gains to end the week as investors wait to hear what Fed Chair Jerome Powell says in his speech to central bankers at their annual gathering in Jackson Hole, Wyoming.
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Dow Industrial futures are 0.3 percent higher, S&P 500 futures are up by 0.4 percent and Nasdaq futures are adding 0.5 percent.
The Fed has been a topic this week with the anticipation of Powell's speech, plus the release of the minutes of the last central bank meeting in which interest rates were cut by 0.25 percent.
U.S. stocks struggled Thursday after the yield curve inverted again — its third such move in the last seven trading sessions — and a measure of manufacturing indicated contraction for the first time in a decade.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26252.24 | +49.51 | +0.19% |
| SP500 | S&P 500 | 2922.95 | -1.48 | -0.05% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7991.388419 | -28.82 | -0.36% |
The inverted curve has been a reliable indicator of a coming recession, which has spooked markets.
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Wall Street also appeared concerned about the not-exactly-dovish comments by Kansas City Fed President, Esther George, who told FOX Business on Wednesday that the U.S. economy is “doing well,” though she's not “blind” to the risk around it.
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In Europe, London's FTSE rose 0.7 percent, Frankfurt's Dax climbed 0.5 percent and France's CAC gained 0.4 percent.
Asian markets finished the day with gains. Tokyo's Nikkei climbed 0.4 percent, China's Shanghai Composite rose 0.5 percent and Hong Kong's Hang Seng climbed 0.5 percent.
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The Associated Press contributed to this article.
Categories: News