Investors Await Fed's Decision Amid Market Gains
Wall Street's main indexes were muted on Tuesday as investors awaited signals on a possible September interest rate cut from the Federal Reserve's latest meeting minutes and a symposium at Jackson Hole. Markets were optimistic after data suggested economic health and a potential rate cut, despite recession worries.
On Tuesday, Wall Street's central indexes showed limited movement as investors eagerly awaited indications regarding a potential September interest rate cut from the Federal Reserve's recent meeting minutes and the upcoming Jackson Hole symposium later this week.
The market experienced volatility after the S&P 500 and Nasdaq extended their gains to an eighth consecutive session on Monday, marking their longest winning streak this year. This surge came post data release, which raised economic optimism and bolstered expectations of a rate cut during the Fed's September meeting.
Market participants are now keen to hear from Fed Chair Jerome Powell, who is set to speak at the annual Jackson Hole symposium on Friday regarding any forthcoming interest rate cuts. Atlanta Fed chief Raphael Bostic and Fed Vice Chair for Supervision Michael Barr are also scheduled to speak on Tuesday, with minutes from the Fed's last policy meeting due on Wednesday.
(With inputs from agencies.)
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