Dow Jones, S&P 500, Nasdaq: Wall Street wartet auf Warshs Rede – Paypal-Aktie bricht ein
Das Notenbankertreffen in Jackson Hole hat das Potenzial, die großen US-Indizes zu bewegen. Beobachter sind aber unsicher, was wirklich zu erwarten ist.
Investors worldwide are watching the Federal Reserve’s Jackson Hole event with bated breath, as Kevin Warsh, the Chair of the US Federal Reserve, is set to speak at 4 PM German time. The market's reaction will depend on his words. Wall Street has shown little movement before the speech, with the Dow Jones remaining at 53,623 points, the S&P 500 at 7,728 points, and the Nasdaq at 26,519 points, showing little change.
The Nasdaq 100, comprising the top 100 non-financial companies by market capitalization, fell 0.3 percent to 29,604. Warsh's communication style has always been different from his predecessors, so analysts expect more from him, especially given the high inflation in the US that has been above the 2% target since 2021. Despite his nomination by President Donald Trump, Warsh has not presented a credible inflation reduction strategy.
Whether he uses the stage in the Rocky Mountains to deliver his message remains uncertain. Under Warsh, the Fed provides much less guidance on future interest rate policy. Currently, 64% of CME derivatives traders do not expect an interest rate hike at the September Fed meeting, while 36% anticipate a 25 basis point increase. The US Federal Reserve kept the federal funds rate within a range of 3.5% to 3.75% at its last meeting.
Thomas Altmann, Portfolio Manager at QC Markets, dampens expectations, stating, "It cannot be assumed that Warsh will clearly position himself for or against an interest rate hike in September."
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