Strong retail sales data and a subdued inflation report last week have helped calm investor fears about the economy.
The actions fluctuate on Tuesday on Wall Street as investors look to continue a recovery rally. The Dow Jones Industrial Average fell 0.9%, the S&P 500 fell 0.1% and the Nasdaq Composite rose 0.3%.
The S&P 500 thus pauses for its eighth consecutive session in positive territory, as does the Nasdaq Composite, which represents the first time that both indices have achieved this milestone since the end of 2023.
Major indexes have rebounded and market volatility has eased since the start of the month. The CBOE Volatility Index (VIX) is now hovering around 15, after having topped 65 on August 5, when the S&P 500 suffered its worst session since 2022 amid a sell-off in global markets triggered by a weak July jobs report and rising interest rates in Japan.
Wall Street: What the market is analyzing
Strong retail sales data and a subdued inflation report last week have helped calm investor fears about the economy.The S&P 500 and Nasdaq are now up more than 1% for the month, underscoring the market’s dramatic recovery.
Wall Street markets
Reuters
This week, investors are gearing up for the Federal Reserve’s annual Jackson Hole Economic Symposium, where Chairman Jerome Powell is scheduled to give a speech on Friday. Before that, traders will pore over the minutes of the central bank’s July monetary policy meeting, due out on Wednesday.
Wall Street is looking for clues about what to expect at the Fed’s next policy meeting. With federal funds futures signaling an interest rate cut, according to CME’s FedWatch tool, the only debate is whether central bankers will cut interest rates by a quarter-point or a half-point in September.
Source: Ambito
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