Dow Jones, S&P 500, Nasdaq: Dow Jones closes almost unchanged - Warsh statements slow down
At the central bank meeting in Jackson Hole, Fed chief Kevin Warsh fuels speculation about an interest rate hike in September. Now the US jobs report is moving into the focus of investors.
US stocks ended the week on a subdued note after Federal Reserve Chairman Kevin Warsh's comments at the Jackson Hole conference. The Dow Jones index remained almost unchanged at 53,560 points, while the S&P 500 and Nasdaq fell by 0.2% and 0.5% respectively. Warsh stated that if inflation does not move towards the 2% target quickly, "we have work ahead of us", dampening market sentiment.
He emphasized that the Fed will react if inflation does not approach the target, but did not commit to a specific interest rate move at the September Fed meeting.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.