US stocks ended trading on August 24 with growth for the first time in four sessions, Report informs citing Interfax.
This week, the market is under increased pressure because of the nervousness of investors due to the prospects for further increases in key rates by the world's central banks, which could trigger an economic recession. The S&P 500 has lost over 2% since the start of the week.
Traders are waiting for the start of the annual economic symposium in Jackson Hole, organized by the Federal Reserve Bank (FRB) of Kansas City. The symposium will take place August 25-27. Fed chief Jerome Powell will speak at it on August 26
Powell is likely to reiterate this week that the Fed still has room to raise rates further because they really want to curb inflation, said UBS AG Wealth Management analyst Kelvin Tay.
Meanwhile, the volume of basic orders for durable goods in the US in July did not change compared to the previous month and amounted to $273.5 billion, according to the country's statistical office.
The consensus forecast of analysts polled by MarketWatch suggested a 1% increase in orders. The stagnation of the indicator signals a cooling in demand against the backdrop of slowing economic growth in the country.