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S&P 500 Closes At Record High

Video Credit: Wochit News
Published on August 28, 2020 - Duration: 00:37s

S&P 500 Closes At Record High

On Thursday, the S&P 500 extended its record highs.

Federal Reserve Chair Jerome Powell spoke at this year's virtual Jackson Hole symposium.

Business Insider reports that Powell outlined the central bank's overhauled strategy for controlling inflation and avoiding future crises.

He also signaled that the Fed's monetary policy will remain accommodative as it seeks to stimulate the US economy.

Jobless claims came in at 1 million for the week that ended on Saturday, in line with consensus estimates.

Abbott Laboratories produced a COVID-19 test that received emergency use authorization from the Food and Drug Administration.

Oil prices traded lower.

West Texas Intermediate crude fell as much as 2.4%, to $42.36 per barrel.

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Jackson Hole

Valley in Wyoming, USA



West Texas Intermediate

Grade of crude oil used as a benchmark in oil pricing

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