Todd Peters, senior vice president at Adviser Investments, has the market analysis for Friday, August 24. Federal Reserve Chairman Jerome Powell dominated headlines with his remarks in defense of a continued gradual interest-rate rise. We also saw the U.S. Commerce Department’s durable goods report, which revealed a 1.7% decline for July—largely the result of fewer aircraft orders. The longer-term trend remains positive with overall durable goods orders up 8% year-over-year for the first seven months of 2018. On the earnings front, Foot Locker beat both sales and earnings expectations, but fell about 10% intra-day on disappointing same-store sales growth of just 0.5%.