U.S. stock markets experienced declines on Friday. By the time trading concluded in New York, the Dow registered 53,560 points, marking a slight drop compared to the previous day. Meanwhile, the broader S&P 500 was down 0.3 percent, reaching approximately 7,712 points, and the Nasdaq 100, a technology index, fell 0.7 percent to around 29,433 points.
Market participants were awaiting a speech by Kevin Warsh, President of the U.S. Federal Reserve, who has typically been reserved about future interest rate policy. During his address in Jackson Hole, Warsh stated that labor markets remain stable and economic performance is solid. However, he emphasized that inflation remains too high. “We must be convinced that core inflation is clearly and sufficiently approaching our target. Otherwise, we still have work to do,” he remarked.
In other markets, the European common currency weakened on Friday evening. The Euro traded at 1.1585 U.S. dollars, meaning the dollar was available for 0.8632 Euros.
The price of gold saw a significant retreat, falling 3.1 percent, with fine ounces trading at $4,460 by the evening. This figure translates to 123.77 Euros per gram. Oil prices also decreased; a barrel of North Sea Brent crude cost $88.15 at 10 p.m. German time on Friday, which was 0.4 percent-or 37 cents-less than the previous day’s close.
