Markets Await Powells Jackson Hole Speech Amid Rate Cut Anticipation

Stock indexes declined on Thursday as market participants awaited Federal Reserve Chair Jerome Powell`s speech at the Jackson Hole symposium, seeking clues about future interest rate cuts. While investors anticipate a rate cut at the next Federal Open Market Committee (FOMC) meeting, its magnitude remains uncertain. Economic data released on Thursday, including a slight rise in jobless claims and a smaller-than-expected increase in existing home sales, further fueled market uncertainty. The S&P 500 and Dow Jones Industrial Average experienced minor losses, while the Nasdaq Composite saw a more significant decline. Treasury yields rose, reflecting the market`s cautious sentiment.