As Wall Street investors gear up for the week ahead, all eyes are on the highly anticipated Jackson Hole Economic Symposium taking place from August 22 to 24 in Wyoming.
This prestigious event will feature speeches from global central bank officials, with Federal Reserve Chair Jerome Powell headlining the lineup. Expect to see economists, financial leaders, and US government representatives in attendance as well.
Investors will be closely analyzing Powell’s keynote speech on Friday, along with other Fed speakers, for any hints on potential monetary policy easing.
In addition to the symposium, the coming week will also bring the release of the minutes from the Federal Reserve’s recent monetary policy meeting and new home sales data.
Economic Events
On August 19 (Monday), the report on US leading economic indicators for July will be unveiled.
Mark your calendars for August 21 (Wednesday) when the Minutes of the Federal Reserve’s July FOMC meeting will be made public.
August 22 (Thursday) will bring separate reports on S&P flash US services PMI and S&P flash US manufacturing PMI for August.
Also on Thursday, data on existing home sales for July will be released.
On August 23 (Friday), don’t miss Fed Chair Jerome Powell’s speech at Jackson Hole retreat and the new home sales data for July.
Earnings
A slew of companies are set to report second-quarter earnings in the upcoming week, including Palo Alto Networks, Estee Lauder, Fabrinet, and many more.
US Markets Recap
Wrapping up last week, US stocks closed higher as fears of an economic downturn subsided.
The Dow Jones Industrial Average climbed 96.7 points, the S&P 500 rose by 11.03 points, and the Nasdaq Composite added 37.22 points.
In the commodities market, Brent and US crude prices dipped while gold prices reached an all-time high.
Additionally, the yield on the 10-year Treasury saw a decline to 3.88 per cent.
