It’s a relatively uneventful session on Wall Street, but with a slightly worsening risk sentiment as all U.S. equity indices traded in the red at around midday trading in New York. If the S&P 500 and Nasdaq 100 close lower today, it will break their current eight-day winning streak, a run that has nearly erased the losses sustained earlier this month.
Traders remain cautious as they await key economic events later this week. On Wednesday morning, the Bureau of Labor Statistics will release its “2024 Preliminary Benchmark Revision to Establishment Data,” which will include non-farm payroll revisions covering the period from April 2023 to March 2024.
Later in the day, at 2 p.m. E.T., the Federal Reserve will release the minutes from the July Federal Open Market Committee (FOMC) meeting.
The Jackson Hole Symposium kicks off on Thursday, where Fed officials are expected to make headlines during media interviews. On Friday, Fed Chair Jerome Powell will take center stage with a live address at 10:00 a.m. ET.
Small caps underperformed large cap on Tuesday, and nine out of 11 S&P 500 sectors were in negative territory, with the exclusion of healthcare and consumer staples.
A measure of ...
