"Market Anticipation Builds as Dow Jones Rises and Yields Dive Ahead of Powell's Jackson Hole Speech; Cathie Wood Targets Promising Stock"
Major indexes closed higher ahead of Fed chief Jerome Powell's speech at the Jackson Hole Economic Symposium. The Dow Jones lagged behind with a 0.5% gain. Manufacturing and services data came in lower than expected, but the stock market focused on a drop in yields. The S&P 500 closed 1.1% higher, the Nasdaq gained 1.6%, and the small-cap Russell 2000 rose 1%. Nike extended its losing streak, while Apple rose for the fourth consecutive day. FootLocker plunged on earnings, while Netflix rose on bullish analyst notes. Zoom Video Communications saw a rise in its stock after Cathie Wood's Ark Innovation ETF and Ark Next Gen Internet ETF bought shares.