Dow soars 800 points and hits record high
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Dow Opens Higher Ahead of Powell's Jackson Hole Speech
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Wall Street is holding relatively steady ahead of a highly anticipated speech about where U.S. interest rates may be heading.
Wall Street fell to a fifth straight loss on Thursday, hurt by a drop for Walmart and dampened hopes for coming cuts to interest rates.
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U.S. stock futures showed little movement Thursday as investors prepared for the start of the Federal Reserve’s Jackson Hole symposium and awaited new labor market data. Attention also turned to Walmart,
Dow futures slipped slightly on Wednesday as investors adopted a cautious stance ahead of Federal Reserve Chair Jerome Powell’s upcoming remarks at the Jackson Hole Symposium.
The Dow Jones led the gains among Wall Street’s main indices, jumping 1.89 percent. The tech-heavy Nasdaq followed with a 1.88 percent gain, and the S&P 500, with a 1.52 percent increase.
The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
Dow ETFs vary widely, giving investors choices between stability, income generation or leverage keyed to the index.
Fed minutes are due, and top retailers will report earnings in the coming week. But the main attraction will be Jerome Powell's speech on Friday.
PM Eastern Time, the S&P 500 edged down by 0.1%, the Dow Jones Industrial Average was down 0.3%, and the Nasdaq Composite was mostly unchanged.
U.S. stocks remained lower in final hour of trading on Tuesday, as investors turned cautious ahead of the Federal Reserve's Jackson Hole Economic Policy Symposium later this week. The Dow Jones Industrial Average was falling 0.