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Stocks close higher following Fed commentary – Equities finished higher on Friday as investors evaluated Fed Chair Powell's Jackson Hole speech in search of clues around upcoming interest-rate decisions. The overall messaging was balanced, as Chair Powell highlighted data dependency and acknowledged that policymakers are sensitive to overtightening. Equity markets responded positively, with both cyclical and defensive sectors performing well. Global markets were mixed, with European equities largely higher while Asian stocks were weaker. Treasury yields drove some flattening of the yield curve with shorter-term rates rising, reflecting a higher potential for another rate hike from the Fed. Meanwhile, 10-year rates were little changed and remained below the high from earlier this week.*

^{*Source: FactSet}

Stocks close higher following Fed commentary – Equities finished higher on Friday as investors evaluated Fed Chair Powell's Jackson Hole speech in search of clues around upcoming interest-rate decisions. The overall messaging was balanced, as Chair Powell highlighted data dependency and acknowledged that policymakers are sensitive to overtightening. Equity markets responded positively, with both cyclical and defensive sectors performing well. Global markets were mixed, with European equities largely higher while Asian stocks were weaker. Treasury yields drove some flattening of the yield curve with shorter-term rates rising, reflecting a higher potential for another rate hike from the Fed. Meanwhile, 10-year rates were little changed and remained below the high from earlier this week.*

^{*Source: FactSet}

Weekly market wrap

The end of August is often associated with the conclusion of summer vacations, back-to-school preparations, and the transition to fall. From an investor's viewpoint, late August is when the attention turns to the Federal Reserve's annual Jackson Hole symposium, which offers policymakers an opportunity to outline broad policy shifts. In the past, Fed chair speeches have created a buzz and set the tone for the markets. That was certainly the case one year ago when Jerome Powell, in a short and pointed speech, telegraphed the Fed’s determination to defeat inflation even if it results in “some pain” for U.S. households. His message dashed hopes for a swift end to the Fed's rate hikes, leading stocks and bonds lower in the month that followed.

The end of August is often associated with the conclusion of summer vacations, back-to-school preparations, and the transition to fall. From an investor's viewpoint, late August is when the attention turns to the Federal Reserve's annual Jackson Hole symposium, which offers policymakers an opportunity to outline broad policy shifts. In the past, Fed chair speeches have created a buzz and set the tone for the markets. That was certainly the case one year ago when Jerome Powell, in a short and pointed speech, telegraphed the Fed’s determination to defeat inflation even if it results in “some pain” for U.S. households. His message dashed hopes for a swift end to the Fed's rate hikes, leading stocks and bonds lower in the month that followed.

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Market news is everywhere - but what does it all mean for you, and how should you react? Each month, our investment strategists share their thoughts on the latest market and economic developments, and offer investing tips you can use as you work toward your long-term financial goals.

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The Quarterly Market Outlook offers our perspective on recent activity in the capital markets. The Edward Jones Investment Policy Committee offers its viewpoints on the U.S. economy, stocks, the bond market, international markets and asset classes, as well as a special topic of interest to investors each quarter.

These aren’t short-term predictions. Rather, this is Edward Jones’ perspective on market and economic topics, designed to help you make decisions affecting your long-term financial strategy. As you read through each topic, you'll find specific actions you can discuss with your financial advisor.

The Quarterly Market Outlook offers our perspective on recent activity in the capital markets. The Edward Jones Investment Policy Committee offers its viewpoints on the U.S. economy, stocks, the bond market, international markets and asset classes, as well as a special topic of interest to investors each quarter.

These aren’t short-term predictions. Rather, this is Edward Jones’ perspective on market and economic topics, designed to help you make decisions affecting your long-term financial strategy. As you read through each topic, you'll find specific actions you can discuss with your financial advisor.