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Dow gains 59 points as markets rebound from three-day losing streak

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The Dow Jones Industrial Average rose 59 points Wednesday as markets bounced back from a three-day losing streak. File Photo by John Angelillo/UPI | <a href=License Photo” height=”534″ src=”https://cdnph.upi.com/svc/sv/upi/2591661371945/2022/1/85cc6ff949daf827f9cc36c1cb8b1e19/Dow-gains-59-points-as-markets-rebound-from-three-day-losing-streak.jpg” title=”The Dow Jones Industrial Average rose 59 points Wednesday as markets bounced back from the three-day losing streak. File Photo by John Angelillo/UPI | License Photo” width=”800″>

The Dow Jones Industrial Average rose 59 points Wednesday as markets bounced back from the three-day losing streak. File Photo by John Angelillo/UPI | License Photo

Aug. 24 (UPI) — U.S. markets posted gains Wednesday rebounding following a three-day losing streak as investors waited on comments on inflation from the Federal Reserve‘s Jackson Hole symposium.

The Dow Jones Industrial Average gained 59.64, or 0.18%, as the S&P 500 rose 0.29% and the Nasdaq Composite closed your day up 0.41%.

The three-day Jackson Hole economic symposium begins Thursday and Fed Chair Jerome Powell is defined to provide remarks on Friday.

Investors are awaiting hints on if the central bank will seek to improve interest levels by 75 or 50 basis points at its next policy announcement on Sept. 21.

Baird Investment Strategy Analyst Ross Mayfield told Yahoo Finance that investors expect the Fed to have a dovish turn.

“I really do think that all their jawboning and hawkishness in the last little while is beginning to arrive,” Mayfield said. “Nevertheless, you still have market that I’m uncertain quite believes they’ll stay with it because the economy slows through next year.”

Energy, property and financials were the best-performing sectors in the S&P 500, while it, healthcare and consumer staples struggled.

Cruiselines helped to lead the broader market higher with Norwegian CRUISELINES rising 8.4%, Royal Caribbean gaining 7.68% and Carnival climbing 5.35%.

Peloton stocks surged 20.36% following the company announced a deal to market its home fitness equipment and apparel on Amazon.

Conversely, Nordstrom stock declined 19.96% following the store cut its full-year sales guidance to 5%-7%, citing slower demand and a listing buildup.

Advanced Auto Parts also fell 9.62% after in addition, it lowered its full-year guidance and missed earnings expectations.

Investors may also be awaiting key economic reports including jobless claims Thursday and the non-public consumption expenditures price index Friday.

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