Web Trader MT5 
US Stock futures held steady overnight Wednesday after a four-day S&P 500 decline driven by tech selloffs. Dow, S&P 500, and Nasdaq 100 futures all traded flat.
Dow Jones fell 0.4% in yesterday’s trading before closing only 0.05% lower at 44,926. Nasdaq closed 0.66% lower at 23,235, losing more than 70% of August’s gains. S&P500 closed 0.33% lower at 6,394. Tech stocks and chipmakers continued to lead Wednesday’s losses amid rotation from high-growth names. Amazon, Apple and Alphabet each fell over 1%, Nvidia fell 3% intraday but closed down just 0.1%.
Powell will speak at the Fed’s Jackson Hole Symposium Friday, potentially influencing the market’s recent rally. Markets expect rate cuts to resume following weak jobs data and moderate inflation figures. Fed funds futures show 83% probability of a cut, down from 100% last week but up from 60% last month, Wall Street anxiety about Powell’s speech is evident as the S&P 500 declined for four consecutive days.
Fed officials voiced concerns about labor market and inflation at July’s meeting, though most deemed rate cuts too early, according to the latest FOMC minutes. Two Fed governors dissented from holding rates steady, favoring cuts instead.
Policymakers noted growing economic risks but generally maintained their current stance.
Minutes highlighted uncertain effects of tariffs on inflation, noting considerable uncertainty about timing, magnitude, and persistence of tariff impacts.
The crypto market rebounded slightly yesterday with Bitcoin rising 1.18% to $114,218. Ethereum jumped 6.3% to close at $4,330. Market sentiment remains cautious ahead of Jackson Hole and Powell’s speech on Friday.
In the Forex market, GBPUSD dropped 0.25% to 1.3457 and the New Zealand dollar extended its losses after the Reserve Bank of New Zealand cut interest rates by 25 basis points from 3.25% to 3%. NZDUSD by more than 1% and lost 70 points to close at 0.5819
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