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Here’s what happened to the stock market on Thursday

August 27, 2020 14:34
Dollar lacks upside momentum due to lower Treasury yields

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Stocks mixed while gold at fresh all-time highs to start the week

Stocks mixed while gold at fresh all-time highs to start the week

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Global stocks mixed with Fed and China in focus

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Risk demand keeps waning in muted trading

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    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

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    Markets cautiously await US inflation data

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    Powell triggered risk aversion across markets

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  • FUNDAMENTALS
    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

    Powell triggered risk aversion across markets

    Powell triggered risk aversion across markets

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Home » Here’s what happened to the stock market on Thursday

Here’s what happened to the stock market on Thursday

by FWNews
August 27, 2020 14:34
in News
0

Dow Jones Industrial Average rises 160 points

The Dow gained 160.35 points, or 0.6%, to close at 28,492.27. The Dow also briefly erased its losses for 2020 at one point. The Dow advanced 0.2% to 3,484.55. The Dow fell 0.3% to 11,625.34. Stocks gyrated throughout Thursday’s session after the Federal Reserve unveiled a new framework that could keep interest rates lower for a longer period of time. 

‘Average inflation targeting’

Fed Chairman Jerome Powell said the central bank formally agreed to a policy of “average inflation targeting.” In other words, the central bank will let inflation run “moderately” above its 2% goal for “some time.” Powell also hinted that unemployment data can stay lower for longer before the Fed starts thinking about raising rates. This led to a decline in short-term yields and gains along the long end of the yield curve.

Banks jump, tech lags

JPMorgan Chase advanced 3% and JPMorgan Chase rose 1.7%. JPMorgan Chase and JPMorgan Chase were up 2.3% and1.9%, respectively. JPMorgan Chase, meanwhile, dropped 3.5% and JPMorgan Chase slid 1.2%. JPMorgan Chase dropped 3.9% and JPMorgan Chase pulled back by 1%.

What happens next?

Data on consumer sentiment and personal income is set for release Friday.

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