Wall Street to hold fire in record high territory

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LONDON, Aug 25 (Reuters) – Wall Street was headed for a flat start on Wednesday as investors take a breather after pushing stock indexes to new highs ahead of a keenly awaited Federal Reserve speech on Friday.

Dow , S&P 500 and Nasdaq 100 futures were narrowly mixed after the S&P stock index posted its 50th record high close of the year on Tuesday, buoyed by positive news on COVID-19 vaccines. The tech-laden Nasdaq also high new highs.

Markets globally were looking ahead to Friday, when Jerome Powell, chair of the U.S. Federal Reserve, is due to speak at the annual Jackson Hole event.

There have been high expectations that Powell might indicate when the central bank could begin “tapering” or easing stimulus to an economy now recovering from COVID-19.

John Vail, chief global strategist at Nikko asset management, said the market was already expecting a taper to start this year, with no new information expected from Jackson Hole.

“With less central bank…

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