📆 Friday, August 25
► European stocks remain largely unchanged while energy and mining shares gain, driven by rising crude oil and iron ore prices. The Stoxx 600 Europe index remains flat, reflecting the uncertainty before Powell's awaited speech. On the other hand, US futures remain steady following a drop led by profit taking in tech stocks on Thursday. The Nasdaq 100 suffering over a near 2% decline, its worst in three weeks.
► Asian equities didn't fare as well, showing a decline of over 1% despite optimism from China's aim to support its economy with the announcement of eased mortgage rules.
► Treasury yields continue to rise, with two-year note yields (more sensitive to imminent policy shifts) remaining above 5%. This uptick comes as investors anticipate insights from the annual gathering of top central bankers in Jackson Hole, Wyoming. The event will feature a speech from Powell, expected to provide clarity on rate dynamics and potential future cuts.
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