MARKETS TODAY
U.S. indexes slightly up this morning as market has priced in most September activities and lackluster of direction. The S&P 500 was up .70% in late morning trading. The Dow Jones Industrial Average up 0.59%, and the Nasdaq Composite has gained .83%.
Weekly jobless claims fall to 3-month low
In the week ending September 3, seasonally adjusted initial claims was 222,000, a decrease of 6,000 from the previous week’s revised level. The 4-week moving average was 233,000, a decrease of 7,500 from the previous week’s revised average.
9-3 weekly jobless claims report
And same-same for continuing jobless claims from Aug. 27 at 1.45 million with previous reporting 1.44 million.
Powell stays the course with hawkish tone at Cato Conference today
Expect the central bank to support the market expectations of third consecutive 0.75-point rate increase later this month. Federal Reserve Chairman Jerome Powell said the central bank is squarely focused on bringing down high inflation to prevent it from becoming entrenched as it did in the 1970s.
