Week in Review: August 28, 2015

August 28th, 2015 by

fed-dove

  • U.S. stock indices suffer their worst single-day losses in over 6 years this week, following slumping Chinese shares lower.
  • After tumbling back to multi-year lows over the summer, crude oil prices jump over 10% on Thursday, their best single-day gains in 6 years.
  • Federal Reserve Chairwoman Janet Yellen doesn’t attend the annual Fed conference in Jackson Hole, Wyoming. Other Fed branch presidents offered mixed evaluations about the risks and benefits of hiking interest rates sometime in 2015, though most expect the central bank to remain dovish on rates.
  • After surging as high at $1.16 earlier this week, the euro slides back to $1.12 against the dollar. The Greenback advances 2.8% on the week.
  • Second-quarter data showed that the Greek economy actually expanded during Q2, defying expectations. GDP grew 0.9% during the 3-month period for its fastest annual growth rate in 7 years.