On Wednesday, Aug. 21, U.S. stocks closed higher amid cautious trading, as investors absorbed a payrolls revision and Federal Reserve minutes, solidifying expectations for a September rate cut. The upcoming Jackson Hole symposium adds to market anticipation.
In economic data, FOMC minutes strengthened expectations for a September rate cut, highlighting ongoing disinflation progress. Meanwhile, U.S. mortgage applications dropped by 10.1% in the week ending Aug. 16, reflecting softer demand in the housing market.
Nine of the 11 major S&P 500 sectors ended in positive territory, with consumer discretionary stocks posting the highest percentage gains, while financials and energy closed lower.
The Dow Jones Industrial Average was up 0.14% and closed at 40,890.49. The S&P 500 ended the day …
