Wall Street set for lower open with Fed meet in focus
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Powell to give his last Jackson Hole speech under watchful gaze of Wall Street and the White House
Just three weeks ago, Federal Reserve Chair Jerome Powell spoke to reporters after the central bank had kept its key interest rate unchanged for a fifth straight meeting and said the job market was “solid.
Wall Street was lower on Wednesday, as investors digested more retail earnings and await the Federal Reserve's latest meeting minutes.
Wall Street is ticking lower in premarket trading as investors perused Walmart’s latest financial results ahead of Federal Reserve Chair Jerome Powell’s speech on Friday.
Investors will next week train their sights on Jackson Hole, Wyoming, where Federal Reserve policymakers gather for their annual policy symposium, in a search for clues on the path of interest rate cuts that could boost stocks to more record highs.
The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell will hint that an interest rate cut is coming soon.
U.S. stocks are slipping again on Thursday, this time after the country’s largest retailer delivered a profit that came up short of Wall Street’s expectations.
The day’s action again centered around stocks caught up in the mania around artificial-intelligence technology.