Technology stocks on the Nasdaq 100 were poised for a third consecutive day of losses Thursday, as investors continued to adopt a risk-off stance ahead of Federal Reserve Chair Jerome Powell's speech at the central bank's annual Jackson Hole Symposium on Friday.
The Consumer Price Index rose 2.7% in the 12 months through July, according to data published last Tuesday, unchanged from the June rate and less than what economists had expected.
Amid labor market concerns and potential rate cuts, investors are turning to stable sectors like consumer staples, utilities, and real estate. ETFs like XLP, XLU, and VNQ are gaining interest.
The company has reportedly entered a licensing agreement with Pairwise, an agricultural gene editing firm to speed up the development of hardier cocoa crops.
