Nasdaq consolidates as traders await a key US CPI report ahead of Jackson Hole Symposium

The article says Nasdaq has entered consolidation as traders wait for the US CPI release and signals from Jackson Hole and the September Fed decision. After a softer-than-expected NFP report briefly boosted rate-cut expectations, those bets partially reversed because the unemployment rate fell to 4.1% and labor market conditions remain relatively firm. The key near-term risk is CPI: a hotter-than-expected print could lift rate-hike odds and pressure Nasdaq, while a soft or in-line reading would likely support another push higher. Technically, Nasdaq is holding below 30,065, with sellers targeting a move toward 26,300 support and buyers looking for a breakout to fresh record highs. A symmetrical triangle on the 4-hour chart suggests an eventual directional move once the data catalyst hits.