Stocks Steady Despite China Fears; Ross Stores and Tesla Show Promising Earnings
U.S. stock futures weakened as concerns about future interest rate increases and China's economic recovery weighed on investor sentiment. The Dow Jones Industrial Average is on track for its worst week since March. The upcoming Jackson Hole symposium is eagerly awaited for hints about the Federal Reserve's thinking on interest rates. Quarterly earnings reports from companies like Deere & Company, Estee Lauder, and Palo Alto Networks are being closely watched. Oil prices are set to end a seven-week winning streak due to concerns about slowing growth in China and potential higher interest rates.