Page 3 - Powell Speech News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The help was needed given profits at China's industrial firms fell 6.7% in July from a year earlier, extending this year's slump to a seventh month. Chinese blue chips shed 2% last week to hit its lows for the year so far, and all eyes will be on the official PMI for August out on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2%, having eked out minor gains last week to break a three-week losing streak.

Meanwhile, the People's Bank of China set a much stronger-than-anticipated official mid-point for the yuan - something it has done every day this week - to keep a floor under its currency amid the strains from a robust dollar and a sputtering economy.

Fed Speech Today: Fed Chair Powell says rates may increase further if necessary due to risks of reaccelerating inflation.

A market rally attempt gained momentum, until Thursday's ugly reversal despite blowout Nvidia earnings. Fed chief Jerome Powell was hawkish Friday. The post…

Five things you need to know before the market opens on Monday August 21: 1. -- Stocks bounce higher, Treasury yields extend run, as markets track Fed, China…