Wall Street Holds Breath as Fed Chair's Address Looms
The US stock market opened on August 28, 2026, in a mixed and cautious mood. Investors are watching for clarity from Federal Reserve Chair Kevin Warsh's keynote address at the Jackson Hole Economic Symposium. The Fed needs to tackle stubborn 3.7% inflation and high oil prices stemming from the regional Iran conflict.
The S&P 500 Index rose marginally by 0.05% to 7,734.43. Meanwhile, the Dow Jones Industrial Average gained 0.14% to trade at 53,644.16. The Nasdaq Composite Index slid 0.03% down to 26,533.27 as the chip rally paused.
Gold prices are experiencing a slight consolidation period today, trading near $4,595 per troy ounce in international spot markets. This represents a minor intraday dip of 0.15% to 0.5% from the previous close. Silver prices, however, rose sharply, up 2.26% at $70.29 per troy ounce.
Historically, September is the most volatile month of the year for Wall Street. Institutional desks are pulling back risk, as evidenced by a massive $22.33 billion weekly outflow from US equity funds.