According to ChainCatcher news and Jin10 reports, US stocks are expected to open higher on Friday, following several days of declines in the market. Investors are waiting for Powell's speech at the Jackson Hole seminar to gain clues about the interest rate path. Michael Matousek, chief trader at US Global Investors, stated that Powell will take a "cautious approach," emphasizing the need to observe data. Several Fed officials are not very positive about the idea of a rate cut next month, and all three major stock indexes are expected to close lower this week, with the S&P 500 and Nasdaq likely to record their worst weekly performance this month.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
U.S. stocks are expected to record their worst weekly performance this week, as the market waits for Powell's speech.
According to ChainCatcher news and Jin10 reports, US stocks are expected to open higher on Friday, following several days of declines in the market. Investors are waiting for Powell's speech at the Jackson Hole seminar to gain clues about the interest rate path. Michael Matousek, chief trader at US Global Investors, stated that Powell will take a "cautious approach," emphasizing the need to observe data. Several Fed officials are not very positive about the idea of a rate cut next month, and all three major stock indexes are expected to close lower this week, with the S&P 500 and Nasdaq likely to record their worst weekly performance this month.