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Lane Generational founder and managing partner Fred Lane says nothing “major” will come from the Fed’s next Jackson Hole meeting.
U.S. equity futures resumed Monday morning as investors anticipated a key Federal Reserve event that could set the stage for the central bank to start scaling back asset purchases.
Dow Jones Industrial Average futures were up 150 points, or 0.43%, while S&P 500 and Nasdaq 100 futures were up 0.34% and 0.27% respectively.
The Dow Jones and the S&P 500 both come out of their biggest weekly declines in two months after minutes from the Federal Reserve’s last meeting last week showed the central bank could start cutting its buying program. ‘assets before the end of the year.
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The Fed’s Jackson Hole Symposium will take place virtually Thursday and Friday and could provide clues as to when the Fed may end the emergency measures put in place at the start of the COVID-19 pandemic and start to escalate. interest rates.
In equities, energy-related names including Chevron Corp, Kinder Morgan Inc. and Haliburton Co. outperformed as West Texas Intermediate crude jumped $ 1.83 to $ 63.97 a barrel.
PayPal Inc. has announced that customers in the UK will be allowed to buy, sell and hold bitcoin, ether, litecoin and bitcoin cash cryptocurrencies starting this week.
In the deals, Pfizer Inc. said it would buy the remaining shares of Trillium Therapeutics Inc. that it does not already own for $ 18.50 a piece, a 204% premium over Friday’s closing price. The deal values the cancer drug maker at $ 2.26 billion.
In terms of profits, Chinese e-commerce company JD.com reported profits and revenue above Wall Street estimates, with the number of active accounts receivable increasing 27.4%.
Overseas markets have recovered in all areas.
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The French CAC 40 led the advance in Europe, trading up 0.94%, while the UK FTSE 100 and German DAX 30 rose 0.46% and 0.25% respectively.
In Asia, the Nikkei 225 of Japan rose 1.78%, the Shanghai Composite of China by 1.45% and the Hang Seng Index of Hong Kong by 1.05%.
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