* The Dow Jones gains/loss 0.98%, the S&P-500 1.41% and the Nasdaq 1.67%
* Slight contraction of the US economy in Q2
* Decrease in unemployment registrations
by Noel Randewich and Bansari Mayur Kamdar
Aug 25 (Reuters) – The New York Stock Exchange ended higher on Thursday, with technology stocks carrying the Nasdaq as investors await a speech from Jerome Powell, the chairman of the US Federal Reserve (Fed), due on Friday.
The Dow Jones index gained 0.98%, or 322.55 points, to 33,291.78 points.
The broader S&P-500 gained 58.35 points, or 1.41%, to 4,199.12 points.
The Nasdaq Composite advanced for its part by 207.74 points (1.67%) to 12,639.27 points.
Jerome Powell is scheduled to speak at the Fed’s annual Jackson Hole symposium on Friday, and investors are hoping he will give some clues about the path of interest rates.
“We’re awaiting Federal Reserve data as the second quarter earnings season winds down. Markets are a bit choppy with reasonably low volatility,” said Bill Northey, chief investment officer at US Bank Wealth Management.
The yield on ten-year Treasuries fell, which benefited stocks in the technology sector.
“Lower interest rates are supporting some of the growth sectors,” notes Bill Northey.
The second estimate of the US gross domestic product (GDP) for the second quarter showed a contraction a little less significant than initially expected (-0.6% at an annualized rate against -0.9% in the first estimate), while registrations unemployed fell unexpectedly last week to 243,000.
Traders are now mostly anticipating a 75 basis point hike in Fed rates in September against a small minority for a rise limited to 50 points.
Fed officials said Thursday they were divided on a 50 or 75 basis point hike in US central bank rates in September, after a rise in the cost of credit of 225 points since March, while a recession is still feared in the United States.
In values, Nvidia progressed despite the announcement of a sharp drop in sales forecast for the current quarter.
Apple, Amazon and Alphabet, the parent company of Google, also advanced, contributing to the performance of the Nasdaq.
* The reminder of the session in Europe:
* TO BE FOLLOWED ON FRIDAY:
(With contributions from Devik Jain and Chavi Mehta; French version Camille Raynaud)