US stocks resumed gains on Thursday with the S&P 500 (^GSPC) inching closer toward record levels as investors weighed how deeply the Federal Reserve might lower interest rates in September on the eve of a key speech by Chair Jerome Powell.
Both the broader market index and the tech-heavy Nasdaq Composite (^IXIC) rose roughly 0.5%. The Dow Jones Industrial Average (^DJI) was up 0.2%, after the three indexes closed in the green on Wednesday.
Stocks took a positive tone after minutes from the Fed’s last meeting showed several officials were open to a July rate cut, signaling a pivot is likely in next month’s policy decision. Mounting hopes for lower rates have already helped markets recoup losses from an early August rout.
The Fed’s Jackson Hole symposium kicks off Thursday with the market on high alert for any shift in tone from the policymakers when Powell speaks at the event on…
