Dow Rises 85 Points as Markets Await Warsh Speech
The Dow Jones Industrial Average rose by 85 points on Friday as investors awaited Federal Reserve Chair Kevin Warsh's speech at the central bank's annual Jackson Hole symposium.
Warsh's appearance was the main focus for markets, which had been dominated by corporate earnings and economic data throughout the week.
The monetary policy outlook has become more uncertain following mixed inflation readings. Investors will also assess the final University of Michigan consumer sentiment reading for August and comments from Chicago Fed President Austan Goolsbee.
Despite a strong advance in technology stocks on Thursday, led by Nvidia's latest earnings report and outlook, semiconductor shares were weaker in trading today. Marvell Technology dropped 7.17% after investors raised concerns about the timing of revenue from its AI chip agreement with Alphabet's Google.