Stock market today: Dow, S&P 500 climb, Nasdaq falls as the focus turns to Kevin Warsh's Jackson Hole speech

LIVE Stock market today: Dow, S&P 500, Nasdaq futures hold steady as the focus turns to Kevin Warsh's Jackson Hole speech Grace O'Donnell · Editor, Special Projects Fri, August 28, 2026 at 10:15 AM GMT+2 1 min read ^IXIC ^DJI ^TNX ^TYX US stock futures were mixed in premarket trading on Friday as all eyes turned to the Federal Reserve's Jackson Hole Symposium , where Fed Chairman Kevin Warsh is scheduled to speak. Futures on the Dow Jones Industrial Average ( YM=F ) rose by 0. 2%, and S&P 500 ( ES=F ) traded roughly flat.

The Nasdaq-100 (NQ=F) contracts dipped 0. 3% after a tech- and earnings-fueled stock rally on Thursday. Markets are seeking clarity from Warsh on the Fed's rate strategy after his stance at the last Fed meeting created confusion.

The Fed chairman's speech, which is scheduled to begin at 10 a. m. ET, comes as Fed officials remain divided on whether to raise interest rates and as inflation has stayed persistently above the central bank's target.

The 10- and 30-year Treasury yields ( ^TNX , ^TYX ) were little changed ahead of the Jackson Hole summit but aren't far off from multiyear highs reached earlier this month as concerns about inflation and national debt exerted pressure. Investors also continue to digest Nvidia's ( NVDA ) bullish long-term outlook, which has rebuilt confidence in the artificial intelligence trade and lifted tech stocks on Thursday. Similarly, Salesforce ( CRM ) brushed aside worries about a "SaaSpocalypse," sending its stock to its best day since 2020.

There are no notable earnings reports on Friday, but the University of Michigan's survey of consumer sentiment will provide perspective on how Americans are viewing economic conditions. LIVE 8 updates 21 mins ago Jake Conley Yields on short-dated Treasurys jump as market interprets a near-term hawkish outlook from Warsh Yields on short-dated two-year Treasury notes rose by roughly 8 basis points as Fed chair Kevin Warsh spoke in Jackson Hole, while those on longer-dated 30-year bond fell by roughly 1. 5 basis points.

In the middle of the duration line, the 10-year yield — perhaps the most important macroeconomic number for the US economy, the benchmark for a variety of lending services — rose by 2 basis points. The change in bonds as Warsh speaks — rising short-term yields and falling long-term yields — is called a "bear flattener," when the spread between short-term and long-term yields closes. The movement indicates that the market is repricing the expected path of Fed policy upward as traders evaluate a more hawkish near-/medium-term rate path outlook from Warsh, even as long-term expectations moderate.

37 mins ago Warsh: 'I am impressed by the overall performance of the economy' Warsh is "impressed by the overall performance of the economy," the Fed chair said on Friday. "For my part, today I am impressed by the overall performance of the economy, which appears to have strengthened," Warsh said. "One indicator of strength is how well an economy holds up to shocks.

On that score, both Main Street and Wall Street have been remarkably resilient. " The comments from the head of the Fed come as market participants stare down a range of economic pressures, from persistently high yields on the long end of the Treasury curve to geopolitical tensions and persistent inflation. Despite all of that, the AI investment boom has kept equities near all-time highs.

44 mins ago Jake Conley Warsh: 'The Fed's predominant focus right now should be on prices' In his first keynote address in Jackson Hole as Federal Reserve chairman, Kevin Warsh is set to say that with inflation running above 2%, “the Fed’s predominant focus right now should be on prices. ” “One of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target,” Warsh will say, per a copy of his speech released by the Fed. “So the Fed's predominant focus right now should be on prices.

” The most recent PCE inflation reading — the Fed’s preferred metric for price change — showed that the 12-month change in prices stands at 3. 7%, with the so-called core annual measure reading at 3. 3%.

Today at 1:36 PM UTC Jake Conley Stocks open on mixed footing ahead of Warsh's Jackson Hole speech The US stock market opened the trading session on mixed footing, with all eyes turned toward Jackson Hole, where Kevin Warsh will deliver his first keynote as Fed Chair. The Dow Jones Industrial Average ( ^DJI ) rose 0. 3% and the SP 500 ( ^GSPC ) picked up 0.

1%. The Nasdaq Composite ( ^IXIC ) fell 0. 1%.

In the bond market — in focus with today’s agenda — yields across the curve rose by roughly half a basis point, a cautionary move as investors awaited Warsh’s words at 10 a. m. ET.

Elsewhere in the stock market, shares in Marvell Technology ( MRVL ) sank by 7% after its Thursday earnings report, while PayPal ( PYPL ) fell 13% after news that Advent and Stripe had abandoned a proposed $50 billion takeover of the payment platform behemoth. Today at 11:00 AM UTC Jared Blikre Bitcoin and Cathie Wood are partying like it's 2021 again Bitcoin ( BTC-USD ) and the Ark Innovation Fund ( ARKK ) are both up more than 20% in August, something that has happened only four other times since Cathie Wood launched her flagship ETF in 2014. The pairing brings back memories.

Late 2020 and early 2021 were the age of zero interest rates, stimulus checks, SPACs, meme stocks, crypto millionaires, and seemingly every company finding a way to put "innovation" in its pitch deck. ARKK became one of the defining trades of the era. Bitcoin was right there with it.

Now that old duo is leading again. ARKK was already among Wall Street's riskiest trades outperforming earlier this month , while bitcoin accelerated after breaking out of a months-long range last week . Read more.

Both bitcoin and ARKK are gaining over 20% in August. · Yahoo Finance AlphaSpace Today at 10:00 AM UTC Grace O'Donnell What's at stake for markets ahead of Kevin Warsh's speech Fed Chairman Kevin Warsh's keynote speech on Friday could be a market-moving event, but Warsh may not say what the market wants to hear. Sevens Report Research Founder Tom Essaye noted that Warsh's Jackson Hole speech "could create a solid pullback" in stocks if it doesn't communicate very much on his stance on inflation or the path of interest rates.

People are already nervous about the Fed, with long-dated Treasury yields remaining elevated, Essaye continued. "We don't know what's going on for the first time in well over a decade," Essaye told Yahoo Finance on Wednesday. "And part of the elevated yields is Fed uncertainty.

So I think Warsh needs to come out and give a very strong response on inflation but also signal to the market that he's not interested in sort of starting an extended rate-hike campaign. " "If he can do that and provide a little bit more clarity on what he's looking at to make rate decisions, I think that the market can breathe a sigh of relief," Essaye said. Today at 9:00 AM UTC Grace O'Donnell Good morning.

Here's what's happening today. Economic data: MNI Chicago PMI, August (57. 6 previously); U.

Mich. sentiment, August final reading (51 previously); U. Mich.

current conditions, August final reading (51. 8 previously); U. Mich.

expectations, August final reading (50. 6 previously); U. Mich.

1-year inflation, August final reading (4. 3% previously); U. Mich.

5-10 year inflation, August final reading (3. 3% previously); Kansas City Fed services activity, August (14 previously) Earnings calendar: No notable earnings Catch up on the latest stories from overnight: Alphabet stock sheds $700B as AI bills climb Nvidia pauses revenue-sharing deals with AI cloud companies Record corporate profits taken from customer tariff refunds US in talks with Venezuela to take major stake in oil fields Chipmakers are outshining Big Tech in the AI rally Today at 8:00 AM UTC Grace O'Donnell Gold holds near $4,600 as investors focus on Fed rate-hike path Bloomberg reports: Gold steadied near $4,600 an ounce as investors weighed the outlook for US interest rates ahead of a key speech by Federal Reserve Chairman Kevin Warsh. Bullion was little changed after adding 0.

2% in the previous session but remained on track for its biggest monthly gain since 1999. The metal was given fresh impetus by the US Treasury's surprise intervention in the bond market, which revived interest in the so-called debasement trade that helped power gold's record-breaking rally last year. Investors will be seeking clues to the Fed's approach to inflation when Warsh makes his first major speech as chairman later on Friday.

The much-anticipated address at the central bank's annual Jackson Hole symposium offers Warsh an opportunity to counter criticism that he hasn't been forthright with his views on the economy. Economists and policymakers are divided over the need to hike rates in the coming months, which would be a headwind for non-yielding gold. Though Fed officials kept borrowing costs unchanged in July, three dissented in favor of a quarter-point hike.

Read more.