S&P 500 and Dow contracts fall ahead of Fed Chair speech

27.08.2020 - Petr Mazaylo
S&P 500 and Dow contracts fall ahead of Fed Chair speech

U.S. stocks were expected to fall on Thursday ahead of a key speech from Federal Reserve Chairman Jerome Powell later in the day.

S&P 500 futures fell by 0.2%, trading 7 points lower, while Dow futures lost 0.3%, with contacts trading at 80 points at 7:10 AM ET (11:10 GMT). The Nasdaq Composite index gained 1.7%, closing the session at a record high.

The benchmark indexes are on track to see their fifth consecutive month of gains, with the Nasdaq Composite outperforming with record gains in 2 years. However, the S&P and the Dow haven’t done better in August since 1986 and 1984 respectively.

U.S. Fed Chair Jerome Powell is expected to speak later in the day during the Jackson Hole conference, where he will give an assessment of the economy as well as give investors clues as to where the central bank’s monetary policy would be heading.

 

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?