Wall Street Opens Mixed as Calm Descends Ahead of Fed; Dow Down 50 Pts

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Investing.com — U.S. stocks opened mixed on Wednesday as the approach Federal Reserve’s Jackson Hole symposium deterred the taking of new positions.

Earlier, core durable goods orders for July came in marginally above expectations, but did little to stir the general summer lethargy.

By 9:45 AM ET (1345 GMT), the Dow Jones Industrial Average was down 50 points, or 0.1%, at 35,316 points. The S&P 500 and Nasdaq Composite eked out modest gains of less than 0.1% and 0.2%, respectively.

Analysts have pared back their initial expectations that Fed Chairman Jerome Powell will signal an early start to the reduction of its bond purchases in his keynote speech at the symposium on Friday. After a string of encouraging labor market data and above-target inflation prints, data have started to show signs of the economy weakening under the latest wave of the pandemic, which has forced many high-profile companies to delay their plans for bringing staff back to the office.

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