Stocks Extend Gain as ‘Not That Many Bears Left’: Markets Wrap

S&P 500 rises ahead of Fed’s Powell address at Jackson Hole
Financials and energy lead gains as Treasury yields, oil rise

WATCH: Be selective and look for value in markets, says Nancy Daoud, CEO at Opus Advice First. Source: Bloomberg

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By Vildana Hajric and Kamaron Leach

August 24, 2021 at 10:06 PM UTC

Updated on

August 25, 2021 at 8:02 PM UTC

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U.S. equities were higher on a quiet day of trading ahead of the Federal Reserve’s Jackson Hole symposium later this week.

The S&P 500 and Nasdaq 100 gained on Wednesday, with both indexes topping record highs. The financial and energy sectors led the gains as Treasury yields and crude oil advanced. Meanwhile, stocks in Europe drifted while a gauge of Chinese tech names struggled to extend a rally.