Morgans AM: Tuesday, 29 August 2023

US equity markets advanced to kick off the final trading week of August, picking up from where they left off last Friday (25 August) following Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium. A number of analysts felt that the central bank chief had set a high bar for further interest rate hikes, whilst eyeing key inflation and employment data at the back end of the week - Dow gained +213-points or +0.62%. 3M Co gained +5.22% after The Wall Street Journal reported that the multinational conglomerate was nearing an agreement on an ~US$5.5B plan to settle more than 300,000 lawsuits over defective military earplugs.