The Best Investment Manager's Guide to Financial Markets: S&P 500 Closes Higher, Best Week of the Year
The S&P 500 closed higher on Friday, marking its best week of the year as fears over the economy eased, leading to a surge in stock buying after recent market turbulence. At 16:00 ET (20:00 GMT), the Dow gained 96 points, the S&P 500 rose 0.2%, and the Nasdaq added 0.2%.
Upbeat economic data continue ahead of Jackson Hole
Recent survey data showed a rebound in consumer sentiment in August, easing concerns about the economy. Expectations about inflation remained steady, reinforcing confidence in the Fed's policies ahead of Jerome Powell's speech at Jackson Hole next week.
Ford to recall 85,000 SUVs, Texas Instruments in US agreement
Ford announced a recall of 85,000 Explorer SUVs due to engine fire concerns, while Texas Instruments signed a funding agreement with the U.S. Department of Commerce under the CHIPS Act to support semiconductor wafer fabs in Texas and Utah.
Applied materials drops despite Q3 beat; Rocket Lab makes progress toward launch
Applied materials saw a slight drop despite beating Q3 expectations, while Rocket Lab surged after preparing spacecraft for a mission to Mars. UBS raised concerns about Applied materials' reliance on mature node demand.
Harris lays out economic agenda in first major policy address
Vice President Kamala Harris outlined her economic agenda focused on tax cuts, affordable housing, and lower food prices to create opportunities for the middle class. Her speech comes ahead of the Democratic National Convention, where she aims to solidify her policies and gain support from voters.
In conclusion, the financial markets saw a positive week with the S&P 500 reaching new heights. Investors should monitor economic data, corporate news, and policy updates to make informed decisions. Vice President Harris's economic agenda could impact various sectors, so staying informed is crucial for financial success.