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The Democratic National Convention opens in Chicago with an emotional President Joe Biden speaking of leadership and legacy and urging support for the party’s presidential nominee, Kamala Harris. The S&P 500 notches a rare eighth consecutive day in the green with the momentum edging Wall Street towards new record highs. A new labour report reveals cracks ahead of Fed Chair Jerome Powell’s highly anticipated speech at the Jackson Hole Symposium later this week. However, Goldman Sachs’ chief economist Jan Hatzius believes slowdown fears in the U.S. are exaggerated. And in the Middle East, U.S. Secretary of State Antony Blinken says Israel has accepted a ‘bridging proposal’ in ceasefire talks.
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