Live Markets: Stocks edge higher but are choppy as Warsh speaks

The Gap

28/08/2026 15:55

Main US indexes posting modest gains
Comm Svcs leads S&P 500 sector gainers; industrials weakest group
Euro STOXX 600 index up ~0.5%
Dollar rallies; gold, US crude decline; bitcoin off ~1%
US 10-year Treasury yield edges up to ~4.68%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
     
STOCKS EDGE HIGHER BUT ARE CHOPPY AS WARSH SPEAKS  
Major U.S. stock indexes are modestly higher in choppy trading on Friday as Federal Reserve Chair Kevin Warsh gave remarks at the annual Jackson Hole symposium.
Warsh said the U.S. central bank will "have work to do" if policymakers are not confident that underlying inflation is returning to its 2% target. Warsh's comments acknowledged that financial conditions do not appear restrictive and marked the closest he has come to acknowledging interest rate hikes may be needed to ease price pressures.
The S&P 500 .SPX bounced between gains and slight losses, but is last up 0.35%. 
"The initial conclusion is that Chairman Warsh is giving the market what it wants to a certain extent. He's acknowledging that inflation is an ongoing issue but sticking to his guns of not being overly forward about predicting what the Fed may or may not do in the future. That's as good as you could have hoped coming out of him. The market is reflecting that," said Oliver Pursche, senior vice president and advisor for Wealthspire Advisors in Westport, Connecticut.
"Ultimately the market is going to continue to focus on earnings and economic data."
Investors are still digesting Nvidia's NVDA.O blockbuster report from late Wednesday. Gap GAP.N shares are up more than 14% on Friday following an upbeat quarterly report.
Here is the early snapshot:
(Caroline Valetkevitch)
*****
     
EARLIER ON LIVE MARKETS:
TREASURY YIELD BULLS HOLD THE UPPER HAND AHEAD OF JACKSON HOLE CLICK HERE
GROWTH DOWNGRADE IS TOUGH SERVE FOR FRANCE CLICK HERE
WHY EUROPEAN EARNINGS GROWTH IS HERE TO STAY CLICK HERE
STOXX SHOOTING FOR WEEKLY GAIN CLICK HERE 
EUROPE BEFORE THE BELL: CALM WATERS...FOR NOW CLICK HERE
WARSH HEADS INTO JACKSON HOLE HOT SEAT CLICK HERE
     

early mkt snapshot https://fingfx.thomsonreuters.com/gfx/mkt/klpyoanazpg/Pasted%20image%201787928677288.png