President Trump says the economy is “doing really well,” even though a major indicator of recessions, the yield curve, inverted for the third time since last Wednesday. CNN’s Boris_Sanchez reports.
Investors are also eagerly awaiting Federal Reserve Chairman Jerome Powell's speech in Jackson Hole on Friday, as they search for direction about the future of US monetary policy.Stocks finished mixed, with only the Dow eking out a gain. The index closed up 0.2%, or 50 points, after swinging nearly 300 points from positive into negative, then back. The S&P 500 and Nasdaq Composite closed down 0.1% and 0.4%, respectively.
The minutes of the Fed's July meeting showed that the Fed saw the July rate cut as an adjustment and wants to keep its options open for future rate cuts. The July rate cut was the first since 2008. Powell is due to speak at 10 a.m. ET on Friday.So far, expectations for a September rate cut are still at roughly 94%, down from 98% on Wednesday.
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