Slow Trading, Low Dollar Thursday Morning As Markets Await Yellen’s Speech At The Fed's Annual Conference Friday
Market attention was focused on the Federal Reserve’s Jackson Hole meeting Thursday morning, as markets opened low with stocks and the dollar on the decline.
Federal Reserve chairwoman Janet Yellen is giving a speech at Friday’s conference, and investors will be hanging on her every word to get clues about the much debated tentative interest rate hike in September. Investors and economists alike remain divided as to whether a rate hike will occur before the end of the year, the Wall Street Journal reports.
Futures opened at a 0.2% loss for the S&P 500, and Europe and Asia also showed minor declines. European stocks opened down too, with the Stoxx Europe 600 down 1%. [WSJ]