- August 19, 2022
- Posted by: Stratford Team
- Category: Economy
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US Stock Market Key Points:
- The S&P 500, Dow Jones and Nasdaq 100 finished with gains despite further hawkish comments by Fed Officials.
- Corporate earnings remain a notable driver for equities and upcoming Jackson Hole Economic Symposium will bring considerable focus on rates.
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US equity indices were range-bound through today’s session. This comes after the S&P 500 tested the 200 Day Moving Average earlier this week, which is currently helping to mark three-month-high for the index. A batch of data released early in the morning showed more positive signs for the US economy, with a strong showing from the Philadelphia Fed Manufacturing survey. That helped to spark a move of USD-strength which led to a breakout to fresh August highs.
There was also a chorus of Fed-speak today, as various members from the FOMC opined on rate policy moving-forward. This should remain…
