South Korea Financial Markets

U.S. stocks are drifting while expectations rise for the Federal Reserve to hike interest rates soon to get the nation’s high inflation under control. The S&P 500 was flat Friday after flipping between modest gains and losses. The Dow Jones Industrial Average added 74 points, and the Nasdaq composite slipped 0.5%. The bond market had more of a reaction following Kevin Warsh’s first time speaking as chairman of the Fed at an annual economic symposium in Jackson Hole, Wyoming. Traders upped their bets for the Fed to hike its federal funds rate as soon as next month to put a lid on inflation.