US stock markets were more muted on Wednesday. The S&P 500 ended 0.3% higher. The Dow Jones Industrial Average and Nasdaq also inched higher. Investors hope a clarity about where interest rates are heading during the upcoming symposium

MACRO

US Markets wrapped up in the green, as market participants look towards the Jackson Hole economic symposium

EU Markets concluded marginally higher while investors await the release of the ECB’s Monetary Policy Meeting Accounts   

Asia Markets were broadly lower, with Hang Seng Tech Index leading losses on Xpeng’s underwhelming performance

SECTORS

Gold rebounded, trading just above $1,755/oz at time of writing as the rally in the dollar came to a pause  

WTI Crude Oil touched a three-week high following the US’s reaction to Iran nuclear deal comments

COMPANY

Peloton soared 20% on news that it had struck an agreement to sell some of its products on Amazon’s US site

Nordstrom plunged nearly 20% having slashed its 2022 financial forecast due to rising inventories and softening demand   

Farfetch climbed 21% after announcing its decision to acquire a 47.5% ownership in e-commerce retailer YOOX Net-A-Porter

EVENTS

Today’s Earnings:

• Peloton (PTON)
• Grab (GRAB)
• Dollar Tree(DLTR) 
• Dell (DLTR)
• Workday(WDAY) 
• Affirm (AFRM)

Economic Calendar (26 Aug 2022)

• Germany Consumer Confidence (September)
• US Personal Income MoM (July)
• US Personal Spending MoM (July)

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