Wall Street opens uneventfully ahead of US Fed meeting

The New York Stock Exchange opened uneventfully on Wednesday, following the previous day’s record, ahead of the opening of the Federal Reserve (Fed, Central Bank) conference in Jackson Hole on Friday.

As of 2:00 p.m. GMT, the Dow Jones’ major index was down 0.15%, the Nasdaq was up 0.20% and trailed Tuesday’s closing record, and the S&P 500 was up a modest 0.03%.

On Tuesday, the Nasdaq Technology rose 0.52% to 15,019.80 points and the S&P 500 rose 0.15% to 4,486.23, also a record. The Dow Jones gained 0.09% to settle at 35,366.26.

“Markets appear to be cooling off after a strong start to the week that pushed the S&P 500 and Nasdaq to new records,” Patrick O’Hare of the briefing summarized.

But for Peter Cardillo of Spartan Capital Securities, it could be that Wall Street enters its third consecutive positive session.

Investors are cautious ahead of Federal Reserve Chairman Jerome Powell’s speech Friday at the Jackson Hole, Wyoming, annual conference.

“The uncertainty regarding the timing and quantity of asset purchase reductions in the fourth quarter is clear,” Schwab analysts said.

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