TRIL - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. U.S. stocks spent most of the week inching up as investors waited for Federal Reserve Chairman Jerome Powell’s Jackson Hole speech on the economy, specifically hoping for clues on the Fed’s plan to taper asset purchases. That muted activity changed on Friday when Powell said the central bank could start tapering its purchases of Treasury bonds and mortgage-backed securities by the end of the year. In Friday’s trading, the Nasdaq advanced 1.2%, the S&P 500 gained 0.9% and the Dow rose 0.7%. For the week, the Nasdaq added 2.8%, while S&P increased 1.5%, and the Dow went up 1.0%. The 10-year Treasury yield fell almost 5 basis points on Friday, but ended the week at 1.31%, up almost 5 basis points from a week ago.

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Wall Street Breakfast: What Moved Markets