Futures indicate that the
The US economy continued to show signs of recovery on Thursday. The DJIA moved back above 17,000 points, while the S&P 500 hit a new record intraday high, after strong economic data was released. In particular, the US manufacturing PMI came in at 58, up from 55.8 in June and well above economists' expectations for 55.7. It was the highest reading since
At close of trade the DJIA was up 0.4%, the S&P 500 up 0.3% and the NASDAQ Composite up 0.1%.
Investors will be tuning into the Jackson Hole symposium for Yellen's speech on the health of labour markets at
"While many people will be picking apart every word [Yellen] says today for hints of an earlier rate hike, I donít expect her to follow in the footsteps of Bernanke, instead once again offering very doveish comments and focusing on slack in the economy," says Alpari analyst Crag Erlam.
Meanwhile, ECB President Draghi will be speaking at the conference after the
"Markets will be looking for any sign from Draghi that the ECB plans to loosen further, particularly given the likelihood of another low inflation outturn (for August), in the euro area next week," says
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