oil rebound

Investors braced for Powell’s Jackson Hole speech as the S&P 500 fell 0.4% and the Dow and Nasdaq were down about 0.34%. Cleveland Fed President Beth Hammack said there is ‘no case for reducing interest rates’ now, while Atlanta Fed President Raphael Bostic still penciled in a 2025 rate cut. Futures indicated a 70–75% probability of a 25-basis-point rate cut in September. Meta Platforms and Google announced a six-year cloud deal worth over $10 billion to expand Meta’s AI workloads on Google Cloud. OpenAI announced plans to open its first India office in New Delhi to tap into India’s developer