This content was published on
August 28, 2026 - 09:30
3 minutes
(Bloomberg) — US stocks and Treasuries drifted as investors waited for Federal Reserve Chair Kevin Warsh to speak at Jackson Hole, looking for clarity on his economic outlook and strategy for bringing inflation back to target.Futures for the S&P 500 were little changed, with the index on course for a weekly advance. Nasdaq 100 contracts gave back some of the gains that were sparked by Nvidia Corp.’s blockbuster outlook. Treasuries, gold and the dollar barely budged. Brent crude eased below $89 a barrel.Warsh’s address at the Fed’s annual economic symposium in Wyoming is shaping up as a crucial test of his scaled-back communication style. It takes place at a delicate time when long-term yields have spiked, partly due to doubts about Warsh’s commitment to taming inflation, prompting the Treasury to intervene in the bond market.“A firm message on inflation, fiscal credibility or the need to preserve restrictive policy would tend to lift real and nominal long-end yields, support the dollar and pressure duration-sensitive assets globally,” said Ulrich Urbahn at Berenberg. “Equities may initially look through it.”In Europe, the Stoxx 600 rebounded, with the gauge on course to dodge its longest streak of weekly losses since 2024. Yields rose modestly as rising inflation in France and Spain strengthened the case for an increase in interest rates next month.Corporate News:A consortium of buyout firm Advent and payment processor Stripe has decided to abandon its pursuit of fintech pioneer PayPal Holdings Inc. The Trump administration must lift its ban on Anthropic PBC’s artificial intelligence technology for federal agencies, a US judge ruled. Some of the main moves in markets:StocksThe Stoxx Europe 600 rose 0.5% as of 8:27 a.m. London time S&P 500 futures were little changed Nasdaq 100 futures fell 0.3% Futures on the Dow Jones Industrial Average rose 0.2% The MSCI Asia Pacific Index rose 0.2% The MSCI Emerging Markets Index was little changed CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1642 The Japanese yen was little changed at 159.49 per dollar The offshore yuan was little changed at 6.7219 per dollar The British pound was little changed at $1.3582 CryptocurrenciesBitcoin fell 0.4% to $79,770.51 Ether fell 0.4% to $2,497.64 BondsThe yield on 10-year Treasuries was little changed at 4.67% Germany’s 10-year yield advanced one basis point to 3.26% Britain’s 10-year yield advanced two basis points to 5.05% CommoditiesBrent crude fell 0.7% to $89.10 a barrel Spot gold rose 0.2% to $4,609.05 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
