The Federal Reserve's Jackson Hole symposium is in focus for investors as it kicks off Thursday.
Jobless claims came in 243,000 for the week ended Aug. 20, down 2,000 from the prior week. It was also lower than consensus estimates of 255,000, according to StreetAccount.The first revision for second-quarter GDP painted a slightly less dour picture for the U.S. economy.
Despite the high inflation and the negative GDP growth, real gross domestic income rose by 1.4% in the second quarter.Consumer confidence recovers somewhat, but recession concerns remain, Bank of America says Still, the firm said a majority of respondents, 66%, expect higher inflation over the next year, with 38% of those respondents anticipating a recession.
George also said that inflation remains "broad based" and wants to see at least three "consistent months" of improving inflation data. The company earned $1.65 per share on revenue of $1.24 billion. Analysts polled by Refinitiv expected a profit of $1.57 per share on revenue of $1.23 billion. Autodesk's operating margin also came in slightly above expectations.Billionaire investor Ron Baron revealed on "Squawk Box" that he has been buying shares of medical apparel company Figs in recent months.
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