Wall Street set to rebound after Jackson Hole shock, data eyed – Reuters

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2022. REUTERS/Brendan McDermid

Aug 30 (Reuters) – U.S. stock indexes were set for a higher open on Tuesday after a two-session hammering on fears of aggressive policy tightening by the Federal Reserve, with investors looking ahead to consumer confidence and job openings data later in the day.

The benchmark S&P 500 index (.SPX) has slumped nearly 4% since Fed Chair Jerome Powell’s Jackson Hole speech last week reaffirmed the central bank’s determination to raise interest rates to tame inflation despite a slowing economy.

All eyes are on U.S. consumer confidence data, due at 10:00 a.m. ET, which is expected to show a rise to 97.9 points in August from 95.7 last month.

The Job Openings and Labor Turnover Survey, or the JOLTS report, is expected to show job openings likely fell to 10.475 million in July from 10.698 million in June.

The report is among several metrics being closely…

Read Full Story: https://www.reuters.com/markets/europe/futures-rebound-after-jackson-hole-shock-data-eyed-2022-08-30/

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