US Equities Post Modest Gains Amidst Hawkish Comments

The US equity markets posted modest gains last week as strong corporate earnings were partly offset by hawkish comments from Federal Reserve Chairman Kevin Warsh.

The S&P 500 Index rose by 0.5%, while the Dow Jones Industrials and NASDAQ increased by 0.6% and 0.4% respectively.

The technology, communication services, and financial sectors led the gains in the S&P 500 Index, whereas energy, healthcare, and industrial sectors trailed behind.

Meanwhile, Chairman Warsh emphasized the Fed's focus on inflation at the Jackson Hole Economic Policy Symposium, reiterating the 2% target. He also stated that setting short-term interest rates would be the primary policy tool to tackle inflation.