As Wall Street anticipated Federal Reserve Chairman Jerome Powell’s address at Jackson Hole, U.S. stocks increased on Friday.
183 points, or 0.5%, were added to the Dow Jones Industrial Average. Along with the Nasdaq Composite, the S&P 500 increased by 0.4%.
The S&P 500 energy sector outperformed, while Disney and Boeing drove the Dow higher.
International central bankers and important financial figures gather for the Jackson Hole Economic Symposium in Wyoming. Stocks dropped after Powell’s aggressive remarks at the event last year. The forum’s chair seized the opportunity to foreshadow “some pain” in the fight against inflation.
Focusing on “structural developments in the global economy” is the event’s stated theme for this year.
Source (CNBC)
