Jackson Hole Meeting in Focus: Global Bankers Await Powell on Interest Rates
Traders examined statements from Federal Reserve officials and awaited Jerome Powell's Friday speech for clues on interest rates, leading to a stalled tech rally as bond yields rose. The Nasdaq 100 fell twice as much as the S&P 500, which dropped over 1%. Two-year Treasury rates remained around 5%. Tesla and Apple declined at least 2.6%, affecting the megacap sector. Nvidia, a leader in AI, nearly lost a 6% gain. Attention is focused on the annual meeting of global central bankers in Jackson Hole, Wyoming, where Powell's speech will likely outline plans for future interest rates.1
SPY Reject Between 75% and 100% Retracement as Bulls Couldn’t Hold 440.70 - 441.92 FVG
Keep reading with a 7-day free trial
Subscribe to Follow the Trend to keep reading this post and get 7 days of free access to the full post archives.