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US stocks fluctuate ahead of the Fed's key speech


August, 21 2024
watermark Economic news

U.S. stock indexes ended trading lower on Tuesday as investors waited for Fed Chairman Jerome Powell to speak at a symposium in Jackson Hole on Friday. The market hopes to get clarity from him about the future monetary policy.


Hawaiian Holdings rose 11.3% after the U.S. Department of Justice refused to block the sale of Hawaiian Airlines. Medtronic Plc grew by 0.7% due to an increase in net profit and an increase in the forecast.


XPeng lost 6% amid weak forecasts, and Palo Alto Networks rose 7.2% after posting strong financial results. Johnson & Johnson rose 0.3% after approving a new lung cancer therapy option and buying V-Wave Ltd.


Lowe's Cos. decreased by 1.2% due to lower profit and revenue. Paramount Global lost 2% (voting shares) and 1.2% (non-voting shares) due to reports of an attempt by billionaire Edgar Bronfman Jr. to disrupt the merger with Skydance Media.


Boeing Co. fell by 4.2% due to the suspension of testing of 777X airliners. Nvidia Corp. It lost 2.1% after a long series of growth. Telos Corp. It grew by 25.3% after winning the competition to modernize the network infrastructure of the US Air Force. Eli Lilly grew by 3.1% due to successful trials of the drug Mounjaro.


The Dow Jones Industrial Average fell 0.15% to 40,834.97 points. The Standard & Poor's 500 declined 0.2% to 5,597.12 points. The Nasdaq Composite lost 0.33% to 17,816.94 points.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.