Dow Jones, Jerome Powell and Interest Rate
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Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
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Investor's Business Daily on MSNStock Market Today: Dow, S&P Under Pressure; This EV Stock Soars, And It's Not Tesla (Live Coverage)
The Dow Jones Industrial Average fell 0.3%, or around 120 points, pulled down by sinking Walmart shares. The 30-stock index was off its lows but remained below the 45,000 level. The S&P 500 gave up 0.3% and tested its 21-day exponential moving average. The S&P 500 is on pace for five straight losing sessions.
Stock futures are pointing to a slightly lower open for major indexes on Wednesday as investors respond to a slew of earnings reports from retailers and brace for a big speech later in the week by Federal Reserve Chair Jerome Powell.