Dow Jones, S&P 500, Nasdaq: Wall Street reacts positively to Warsh – Paypal share plummets
The central bankers' meeting in Jackson Hole and the Fed chief's speech hardly move the major indexes. However, some stocks stand out with significant losses.
US stocks saw modest gains after Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole meeting. The Dow Jones rose 0.4% to 53,795 points, while the S&P 500 gained 0.3% to 7,766 points and the Nasdaq added 0.5% to 26,669 points. Warsh emphasized the need for the Fed to react if inflation doesn't move towards the 2% target, but didn't commit to a specific interest rate move at the September Fed meeting. The speech led to a slight increase in short-term US bond yields and a small decrease in long-term bond yields.
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.
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