Wall Street set for lower open with Fed meet in focus
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Powell to give his last Jackson Hole speech under watchful gaze of Wall Street and the White House
Just three weeks ago, Federal Reserve Chair Jerome Powell spoke to reporters after the central bank had kept its key interest rate unchanged for a fifth straight meeting and said the job market was “solid.
The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
Wall Street was lower on Wednesday, as investors digested more retail earnings and await the Federal Reserve's latest meeting minutes.
The consumer price index for July will come out on Tuesday, and Wall Street expects a 0.2% monthly overall increase and a 0.3% uptick in the core CPI.
Nvidia, Palantir and other superstar AI stocks are dragging Wall Street lower again. The S&P 500 fell 0.5% Wednesday and was on track for a fourth straight loss after setting an all-time high last week.
Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.
Producer prices jumped in July but may not translate directly into the Fed’s preferred inflation gauge, easing fears of runaway inflation. Jobless
Wall Street is edging further from its records. NEW YORK (AP) — Wall Street is edging lower on Tuesday following drops for Palantir and other stars that had been riding the mania surrounding artificial-intelligence technology.
This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will tune into Federal Reserve Chair Jerome Powell's speech for any h
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