The main equity indexes reacted well at first to Federal Reserve Chair Kevin Warsh's Jackson Hole Economic Symposium keynote speech on Friday. Treasury yields and odds of a rate hike in September rose, too. Stock market momentum waned as another low-volume late-summer trading session wore on, and all three indexes turned lower heading into the weekend.
At the closing bell, the Nasdaq Composite was down 0.5% at 26,402, but the tech-heavy index was up 0.8% for the week. The broad-based S&P 500 shed 0.3% on Friday but added 0.5% for the week to 7,711. The Dow Jones Industrial Average was off 0.02% on Friday, but Papa Dow rose 0.5% over the five days to 53,560.
