Stock Market Today: Dow rises over 150 points as investors await Powell’s Jackson Hole speech at end of week
U.S. stocks traded higher Monday afternoon, as investors focused on retail earnings this week while awaiting Federal Reserve Jerome Powell’s speech at the Jackson Hole Economic Symposium on Friday.
Lowe’s will report its earnings for the second quarter on Tuesday, while Target, Macy’s, TJX, and Urban Outfitters will release their financial results on Wednesday. Peloton and Ross’s earnings are due Thursday. For tech companies, Palo Alto Networks, Snowflake and Zoom Video will also report their earnings this week.
“It’s unlikely that these companies will shake up the recent relief attitude about the state of the consumer, nor influence the continuing optimism about the future of AI and how it will drive tech spending,” according to Louis Navellier, chairman and founder of Navellier & Associates.
The Dow Jones Industrial Average rose 180 points, or 0.4% to around 40,839.
The S&P 500 gained 34 points, or 0.6% to roughly 5,588.
The Nasdaq Composite went up 133 points, or 0.8% to 17,765.
