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Here’s what happened to the stock market on Thursday

August 27, 2020 14:34
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    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

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  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

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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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