Wall St ends higher, extending rally ahead of Jackson Hole

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NEW YORK: U.S.stocks advanced on Monday, building on their largest weekly percentage gain of the year as investors focused on the Democratic National Convention and the upcoming Jackson Hole Economic Symposium.

"I think (Powell) is going to reiterate some of the talking points that the Fed made, that they're getting a little bit more comfortable with the fact that inflation is coming down to target," Nolte added.

The S&P 500 and the Nasdaq extended their winning streak to eight consecutive sessions, the longest in 2024, as equities continued to rebound from a steep sell-off two weeks ago driven by recession fears.

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Category: EconomyBusiness

Markets: MalaysiaBrazil

Topics: /Business/Business News NYSE Wall Street Commodities Markets Dow Jones Trading Nasdaq Dollar

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 08:25:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 676 words

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