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Stock Market Today: Dow Jones, S&P 500 Fall After Fed Powell’s Comments On Inflation

All major stock market indices dropped on Friday after Fed Chair Powell’s speech at the Jackson Hole meeting.

stock market dow jones today (jackson hole meeting)

Stock Market Today Mid-Morning Updates

On Friday morning, the Dow Jones Industrial Average started to rebound after dropping by 200 points early Friday morning. This comes following comments from Federal Reserve Chair Jerome Powell’s Jackson Hole speech. In detail, Powell warned investors that may be ‘some pain’ ahead in their efforts to get bring down inflation.

In his speech, he also reaffirmed the Fed will continue to increase interest rates to help battle inflation. Moreover, Powell stated, “restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy.”

Additionally, as this week winds down investors are still paying close attention to companies that still have to report their corporate earnings. Specifically, on Friday morning, retail companies such as JinkoSolar Holdings Company (NYSE: JKS) reported earnings. Meanwhile, investors await earnings from companies like Pinduoduo Inc. (NASDAQ: PDD), Best Buy Co, Inc. (NYSE: BBY), and Futu Holdings Ltd (NASDAQ: FUTU) will report their most recent quarterly earnings early next week.

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Dow Jones Today: Dow Jones Leaders Fall Following Fed Chair Powell’s Comments During Jackson Hole Speech

Amid the Dow Jones leaders, shares of Apple (NASDAQ: AAPL) are trading down by 0.26% on Friday morning, while Microsoft (NASDAQ: MSFT) is also down by 0.23%. Meanwhile, shares of Nike, Inc. (NYSE: NKE), and The Walt Disney Co (NYSE: DIS) shares are trading lower on Friday morning. Among the Dow financial leaders, shares of American Express Co. (NYSE: AXP) and JPMorgan Chase & Co. (NYSE: JPM) are also red during Friday morning’s trading session.

Shares of EV leader Tesla (NASDAQ: TSLA) gained on Friday by 1.22%. Rival EV companies like Rivian are also trading lower by 1.61%. Lucid Group (NASDAQ: LCID) stock moved slightly lower on Friday morning by 0.62%. Aside from that, Chinese EV leaders like Nio (NYSE: NIO) and Xpeng Inc. (NYSE: XPEV) are trading mixed on Friday.

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Stock Market Today: U.S. Treasury Yield Increases To 3.061%

Following the stock market opening on Friday, the major indices opened lower. The Dow is trading lower by 0.57%, the S&P 500, and Nasdaq are also red on Friday morning by 0.75%, and 0.92%, respectively.

Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) moved lower on Friday morning by 1.10% while the SPDR S&P 500 ETF (NYSEARCA: SPY) is also down by 0.98%. The benchmark 10-year U.S. Treasury yield is at 3.061% during the Friday morning trading session.

Source: TD Ameritrade TOS

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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