Dow Jones, S&P 500, Nasdaq: Wall Street waits for Warsh's speech – Paypal share plummets
The central bankers' meeting in Jackson Hole has the potential to move the major US indexes. However, observers are uncertain what to really expect.
Investors are eagerly awaiting a speech by Kevin Warsh, Chair of the US Federal Reserve (Fed), at a meeting in Jackson Hole, Wyoming. The speech is expected to impact the stock market, which has shown little movement so far, with the Dow Jones at 53,623 points, S&P 500 at 7,728 points, and Nasdaq at 26,519 points. Warsh's communication style has been sparse, and experts are uncertain if he will outline a strategy to address the high inflation in the US, which has been above the 2% target since 2021.
Ahead of the speech, markets are pricing in a 36% chance of a 25 basis point interest rate hike at the Fed's next meeting in September. Paypal shares fell 13.5% after a report that a consortium had dropped plans to acquire the company.
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.
