Inflation data will highlight an otherwise tame earnings and economic calendar in the first full trading week of September as investor attention turns to the Federal Reserve’s next policy meeting. Stocks finished last week on a down note, with stocks sliding after a soft August jobs report served as the latest piece of evidence that…
Federal Reserve Chair Jerome Powell opened the door to a September rate cut on Friday, saying in a speech in Jackson Hole that “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” In a speech that touched both on the economic outlook and the Fed’s new policy framework, Powell…
US stocks soared on Friday as Federal Reserve Chair Jerome Powell opened the door to a September rate cut during his highly anticipated speech at Jackson Hole. The Dow Jones Industrial Average (^DJI) rose 800 points or 1.9% to close at a fresh record, while the S&P 500 (^GSPC) moved up about 1.5%, and the…
Producer prices in July rose faster than forecast across the board, giving investors and the Federal Reserve an inflation surprise just over a week out from Fed Chair Jay Powell’s crucial Jackson Hole speech. The Producer Price Index (PPI) for July showed inflation for businesses rose 0.9% over the prior month, well ahead of the…
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday pushed back against reports the central bank was spending money excessively on renovations, saying that the almost 90-year-old headquarters “was not really safe,” while acknowledging cost overruns. “The media reports … are misleading and inaccurate in many, many respects,” Powell said…