Jerome Powell, U.S. Federal Reserve Chair, hinted at a potential interest rate cut in September during his speech at the Jackson Hole Economic Symposium, boosting market optimism.
However, this enthusiasm was tempered by escalating tensions in the Middle East, where Hezbollah launched a significant attack on Israel, raising fears of a broader regional conflict.
The ongoing uncertainty led to cautious market reactions, with oil prices rising due to concerns over potential supply disruptions, while global stocks showed mixed results.
Reuters