Pre-Market Report – Friday 23 August: US markets fall ahead of Powell | SPI Futures down 43

The S&P 500 pulled back on Thursday as investors readied for a speech by Federal Reserve Chair Jerome Powell at the central bank’s annual Jackson Hole conference.

S&P slipped 0.89% to close at 5,570.64. The Dow Jones ended down 177.71 points, or 0.43%, at 40,712.78. The Nasdaq  shed 1.67% to close at 17,619.35 as technology stocks were sold off.

ASX SPI Futures Down 43 Points

• Gold slips as dollar, yields rebound; Powell's speech in focus.
• Oil prices settle $1 up on hopes of a US Fed rate cut next month.
• OPEC gets updated plans from Iraq, Kazakhstan on overproduction compensation.
• Chile's Codelco could face $8 million fine for tailings dam violations.
• Aluminium steadies after hitting six-week high.

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