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S&P 500 Closes At Record High

Video Credit: Wochit News
Published on August 28, 2020 - Duration: 00:37s

S&P 500 Closes At Record High

On Thursday, the S&P 500 extended its record highs.

Federal Reserve Chair Jerome Powell spoke at this year's virtual Jackson Hole symposium.

Business Insider reports that Powell outlined the central bank's overhauled strategy for controlling inflation and avoiding future crises.

He also signaled that the Fed's monetary policy will remain accommodative as it seeks to stimulate the US economy.

Jobless claims came in at 1 million for the week that ended on Saturday, in line with consensus estimates.

Abbott Laboratories produced a COVID-19 test that received emergency use authorization from the Food and Drug Administration.

Oil prices traded lower.

West Texas Intermediate crude fell as much as 2.4%, to $42.36 per barrel.

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Federal Reserve

Central banking system of the United States
Raphael Bostic, the president and CEO of Federal Reserve Bank of Atlanta, says "we have to change the trajectory for the generations to come."
Credit: CBS News - Published 4 days ago


Jackson Hole

Valley in Wyoming, USA


Food and Drug Administration

Agency of the United States Department of Health and Human Services
A former sales VP for a pharmaceutical company was sentenced to prison tells 60 Minutes he bribed doctors to prescribe fentanyl drugs. Bill Whitaker reports.
Credit: CBS News - Published 14 hours ago

A drug manufacturer denounces his own industry and explains to 60 Minutes how a label change by the FDA expanded the use of opioids. Bill Whitaker reports.
Credit: CBS News - Published 14 hours ago

Moderna's CEO says interim results are expected next month from a large clinical trial of the company's coronavirus vaccine -- one of several vaccines in the..
Credit: CBS News - Published 15 hours ago


West Texas Intermediate

Grade of crude oil used as a benchmark in oil pricing

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