Federal Reserve, Wall Street and Jerome Powell
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Wall Street steadies
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Stock index futures were down on Wednesday, as investors awaited more retail earnings and the Federal Reserve's latest meeting minutes. S&P 500 futures (SPX) -0.1%, Nasdaq 100 futures (US100:IND) -0.2%,
The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell will hint that an interest rate cut is coming soon.
Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.
U.S. stock futures started Wednesday lower after a tech-led selloff caused by a report saying the majority of companies investing in generative AI have yet to see returns.
Wall Street's main indexes declined on Wednesday and the Nasdaq hit a two-week low as a rally in technology stocks cooled and caution prevailed ahead of the Federal Reserve's highly anticipated Jackson Hole symposium later this week After driving much of the market's recovery from the April selloff,