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Stock Market Today: S&P 500 and Nasdaq Extend Winning Streak Ahead of Jackson Hole Symposium
US stocks continued their upward momentum today, with the S&P 500 and Nasdaq Composite both on track for their eighth consecutive daily gain. Investors are eagerly awaiting Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium later this week.
Key Points:
- S&P 500 ( ^GSPC): The broad-market index rose 0.5%, extending its longest winning streak of the year.
- Nasdaq Composite ( ^IXIC): The tech-heavy index increased more than 0.5%, also aiming for an eighth consecutive session win.
- Dow Jones Industrial Average ( ^DJI): The Dow gained over 200 points, mirroring the positive sentiment.
Last week’s strong rally helped recover losses from an early August sell-off, as encouraging inflation and consumer spending data eased recession concerns. Confidence in a “soft landing” for the economy has grown, leading investors to focus on the magnitude of potential rate cuts by the Fed in September.
Keep an eye on Powell’s speech and the upcoming Democratic National Convention for further market insights.
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