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• S&P 500 logs 5-day losing streak as investors await Powell's Jackson Hole speech
  U.S. stocks closed lower Thursday, with the S&P 500...

  U.S. stocks closed lower Thursday, with the S&P 500 index logging a fifth straight daily loss, as technology stocks slumped and investors waited to hear from Federal Reserve Chair Jerome Powell on Friday.

  
  

  The Dow Jones Industrial Average fell 152.81 points, or 0.3%, ending at 44,785.50.

  
  

  The S&P 500 fell 25.61 points, or 0.4%, closing at 6,370.17 and booking a 1.5% decline over five straight days.

  
  

  The Nasdaq Composite Index shed 72.55 points, or 0.3%, finishing at 21,100.31.

  
  

  Investors will be listening for any hints about the future path of interest rates during Powell's highly anticipated speech at the annual Jackson Hole economic symposium.

  
  

  Small-cap stocks and other rate-sensitive assets, like home-builder stocks, have rallied in August in anticipation of the Fed potentially resuming rate cuts in September.

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• U.S. and E.U. Agree on Details of Trade Deal
  The United States and the European Union on Thursday published much-anticipated...
  The United States and the European Union on Thursday published much-anticipated details of the trade agreement they struck verbally last month. Under the deal, Washington will maintain high tariffs on vehicles imported from the 27-nation bloc until the E.U. takes steps to lower its levies on many American industrial and agricultural products. The backbone of the deal remains unchanged, with the U.S. imposing a 15 percent tariff on most goods arriving from E.U. countries, a rate that President Trump enacted in an executive order that took effect earlier this month.
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• Vantage Unveils $25B Texas Data Center Campus Near Permian NatGas
  Another data center project is under development in an area west of the...
  Another data center project is under development in an area west of the Dallas/Fort Worth Metroplex, where Permian Basin natural gas has lured other centers looking for reliable power.
  
  Vantage Data Centers said Aug. 19 it would build a $25 billion, 1.4-gigawatt (GW) Frontier campus on 1,200 acres in Shackelford County, Texas. The county is near the city of Abilene, which has attracted the interest of data centers because of its proximity to gas supplies. Vantage didn’t disclose where in the county it would build its campus.
  
  Vantage has built or is developing data centers in North America, Europe, and Southeast Asia. The company has 11 projects in the U.S., primarily on the East and West coasts. The Frontier campus will be the company’s first in Texas.
  
  
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• Superior Buys Nabors’ Quail Tools Subsidiary for $600MM
  Nabors Industries Ltd. is selling its subsidiary Quail Tools LLC to Superior...
  Nabors Industries Ltd. is selling its subsidiary Quail Tools LLC to Superior Energy Services Inc. for approximately $600 million, plus adjustments for net working capital, the companies said Aug. 20.
  
  Nabors acquired Quail, a leading rental provider of high-performance tubulars, in a March acquisition of drilling services company Parker Wellbore for $372 million. The deal added tubular rental and repairs services operations that include onshore and offshore tubular services across the U.S., Middle East, Latin America and Asia.
  
  Superior said the deal nearly doubles its tubular inventory, significantly expanding its presence in the U.S. market and its reach globally.
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• Trump calls for Fed Governor Lisa Cook to resign
  President Trump posted on Truth Social yesterday that Lisa Cook, a Biden-appointed...
  President Trump posted on Truth Social yesterday that Lisa Cook, a Biden-appointed Federal Reserve governor, “must resign, now!!!” after the leader of the Federal Housing Finance Agency, Bill Pulte, claimed she submitted fraudulent information to banks on mortgage loan documents. Citing anonymous sources, the Wall Street Journal reported that Trump is considering firing Cook for cause. It’s his latest swipe at the independence of the central bank, which hasn’t lowered interest rates like the president wants. Pulte, a Trump ally who has made similar allegations against prominent critics of the president, asked the DOJ to investigate Cook, alleging she had requested mortgages in Atlanta and Michigan and claimed both properties as her primary residence. Cook said she would not be “bullied to step down.”
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