Stock market today: Dow, S&P 500 climb, Nasdaq falls as the focus turns to Kevin Warsh's Jackson Hole speech
On Friday, US stocks experienced a mixed performance as investors analyzed Federal Reserve Chairman Kevin Warsh's Jackson Hole speech. The Dow Jones Industrial Average ended flat, the S&P 500 dipped 0.25%, and the Nasdaq Composite declined 0.52%. Warsh's comments were generally seen as mildly hawkish, with odds of a 25 basis point rate hike in September rising to 57%.
In the bond market, the 10-year Treasury yield increased by 4 basis points to 4.72%, while the 30-year yield rose 2 basis points to 5.21%. Tech stocks, particularly shares of Nvidia and Marvell Technology, faced pressure due to earnings reports and second quarter figures. PayPal's stock dropped 12% following the withdrawal of a potential $50 billion takeover by Advent and Stripe.
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- US stocks: Wall Street ends lower after Fed Chair Warsh reaffirms inflation fight businesstimes.com.sg
- US stocks close lower after Fed chair Kevin Warsh reaffirms inflation fight straitstimes.com
- WATCH: Fed Chair Warsh signals stubborn inflation may require rate hikes in Jackson Hole speech pbs.org
- More U.S. rate hikes possible with inflation still elevated, Federal Reserve chair Kevin Warsh says cbc.ca
- Fed Chair Kevin Warsh Says Inflation Still Too High In First Jackson Hole Speech forbes.com
- Fed Chairman Kevin Warsh spoke today and the odds of an interest-rate hike rose double digits. Plus, Hegseth summoned the military’s top brass for a meeting and Russians got a little taste of direct democracy. Read more in today’s What’s News newsletter. wsj.com
