Congress is continuing to argue about whether and how to deliver another round of aid to the economy. Investors say the assistance is crucial following the expiration of weekly unemployment benefits and other stimulus from Washington’s last round of aid. The S&P 500 is trading close to levels last seen when the dot-com bubble was deflating in the early 2000s, based on stock prices relative to expected earnings in the next 12 months. Investors are waiting to hear from Fed Chair Jerome Powell later this week at a speech that he would normally give at Jackson Hole, Wyoming. Investors closely follow speeches given at the annual Jackson Hole event, where Fed officials in the past have made huge market-moving headlines.

Source: The Standard August 25, 2020 00:56 UTC