The start of the last trading week of August saw a small increase in stock futures.
The Dow Jones Industrial Average futures increased by 83 points, or roughly 0.2%, while the S&P 500 futures and Nasdaq-100 futures also increased by 0.2% and 0.3%.
Following a Bloomberg News story that the business was prepared to settle claims alleging that some earplugs were defective, 3M shares increased by more than 5%.
Following new comments from Federal Reserve Chair Jerome Powell, stocks are coming off a positive session. Although it increased by 0.7% on Friday, the Dow Jones Industrial Average nevertheless ended the week 0.45% lower. The Nasdaq Composite increased by around 0.9%, while the S&P 500 increased by roughly 0.7%. This was the latter indexes’ first profitable week in the previous four.
Friday’s remarks at the yearly central meeting of banks in Jackson Hole, Wyoming Powell noted certain indicators of ongoing economic expansion and robust consumer spending, but he also said the central bank will “proceed carefully” with further rate hikes.
Source (CNBC)
