Rehling anticipates a single rate cut in 2025, as Wells Fargo’s projections reflect persistent economic strength and inflation. Bitcoin has dropped 13% from its December peak, despite MicroStrategy’s continued investments, while U.S. stock markets faced declines amid investor caution. Pending home sales rose unexpectedly, signaling a shift in buyer expectations regarding mortgage rates.
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0 posts last weekStocks Decline Ahead of Powell’s Key Jackson Hole Speech
Stocks experienced a decline ahead of Fed Chair Jerome Powell’s upcoming speech at the Jackson Hole Economic Symposium, with the Dow slipping 0.4%, the S&P 500 down 0.9%, and the Nasdaq falling 1.7%. Economic data revealed a rise in initial jobless claims and existing home sales, while Snowflake’s stock dropped 14.7% despite a strong earnings report, and Zoom’s shares surged 13% following a positive quarter. Analysts anticipate Powell’s speech may influence expectations for potential rate cuts in September and November, amid concerns about inflation and economic growth.
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