Nasdaq Edges Higher as Investors Track Fed Outlook and Economic Data

The Nasdaq Composite index rose 0.19% to 26,117 on Friday, August 21, as investors tracked the Federal Reserve's interest-rate outlook and economic data.

The modest rebound came after a sharp sell-off in the previous session, with Wall Street suffering a broad decline on Thursday.

Rising Treasury yields and geopolitical risks weighed on investor sentiment, but some comfort was taken from moves by the U.S. Treasury to support the long-end of the government bond market.

The Fed's interest-rate outlook remains a key driver for Nasdaq investors, with economists expecting the benchmark rate to stay in the 3.50%-3.75% range through 2026.