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Wall Street rises as investors await Fed's signals from Jackson Hole

Data shows mild US economic contraction in Q2; Salesforce falls after slashing outlook, citing macro concerns; Nvidia forecasts sharp drop in Q3 sales; Tesla slips as 3-for-1 stock split kicks in

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(Photo: AP/PTI)

Reuters
Wall Street's main indexes rose in early trading on Thursday, supported by banks and megacap growth stocks, while focus was squarely on Federal Reserve's annual Jackson Hole symposium for clues on the central bank's monetary policy outlook.

Wall Street snapped its three-day losing streak on Wednesday, boosted by strong gains in energy stocks but closed the session off intraday highs as markets remained cautious on how the Fed plans to curb inflation amid rising concerns around slowing global growth.

"People are coming back to the market gradually with the assumption that a lot of the bad news has already been priced in,"

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Aug 25 2022 | 7:25 PM IST

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