Stock Market Today: Stocks higher with Jackson Hole speech on deck

Stocks could test their recent record highs ahead of the Fed Chair's keynote address later this morning.

Aug 23, 2024 - 20:30

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Stock Market Today: Stocks higher with Jackson Hole speech on deck

Analyze a spread of to come again for updates for the dimension of the trading day

U.S. shares moved firmly increased in early Friday trading, at the identical time as Treasury yields and the dollar were largely unchanged, as traders braced for a key speech from Federal Reserve Chairman Jerome Powell that would in all chance make clear the beneficial financial institution's plans for autumn rate cuts.

Up to this element at 9:37 AM EDT

Steady open

The S&P five hundred became marked 35 motives, or zero.sixty 4%, interior the outlet minutes of trading, at the identical time as the Nasdaq brought 143 motives, or zero.Eighty one%.

The Dow jumped 220 motives at the identical time as the small-cap Russell 2000 gained 17 motives, or zero.eighty%, with Powell's Jackson Gap speech firmly in core of realization.

"Powell will imaginable be satisfied to sustain markets guessing on the scale of the pass in September, and we doubt he will push rate expectations for this year down extra, given the on the element of a hundred groundwork motives of easing already discounted by year-cease," stated Ian Shepherdson of Pantheon Macroeconomics.