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Stock Market Looks to Powell's Jackson Hole Speech as S&P 500 ...
2024-08-19 19:55:08
Markets
Stocks
Economy

Stock Market Looks to Powell's Jackson Hole Speech as S&P 500 and Nasdaq Continue Winning Streak

Image courtesy of : AFP (SPENCER PLATT)

Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Economic Symposium as the S&P 500 and Nasdaq extend their winning streak. Positive economic data has boosted Wall Street optimism, with traders now pricing a 72% chance of a 0.25% interest rate cut in September.

Attention also turns to the Democratic National Convention for insights on Kamala Harris. However, concerns remain about the potential impact of the upcoming recession and the stock market's high valuations.

Despite this, history suggests that the current bull market has further upside potential, with past bull markets averaging 184% returns over 1,964 days. Investors are advised to consider quality stocks at reasonable prices while maintaining cash reserves for potential pullbacks.

Related news on that topic:

Countdown to Jackson Hole: US Stocks Steady as Investors Await ... Powell's Speech

US stocks remain steady near record levels as investors eagerly anticipate Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium. Expectations for a potential rate cut are high, with traders pricing in a 0.25% or 0.50% cut. Recession concerns have eased following positive inflation and consumer data, leading Goldman Sachs to lower the likelihood of a recession. The start of the Democratic National Convention adds to the market focus, particularly on Kamala Harris. Major indexes have been fluctuating, but the overall sentiment is positive as the market reacts to encouraging economic indicators. The upcoming speech is seen as crucial for providing insights into the Fed's future rate path. Retail earnings from Lowe's, Target, and other key retailers are also in focus this week. As the countdown to Jackson Hole continues, investors are closely watching for any clues that could impact market direction and sentiment.

Market Optimism Soars After S&P 500's Record Week

Following the S&P 500's stellar performance, stock futures edged up slightly, with the Nasdaq Composite and Dow also making gains. August's turbulence and recession fears were overshadowed by positive economic data, easing rate cut concerns. Investors eagerly anticipate Fed Chair Jerome Powell's speech and the Fed meeting minutes. Wall Street's robust week saw the S&P 500 surge nearly 3.9%, prompting optimism despite market volatility. As the market braces for potential rate shifts, insights from Powell's address at Jackson Hole are highly anticipated. Economic indicators like retail sales and jobless claims have dispelled recession fears, bolstering market sentiment. Amidst hopes for a soft landing, global assets, including EM stocks, are poised for gains if these sentiments persist.

Read 41 more recent news on this topic

The press radar on this topic:

The Street
19. August 2024 um 11:03

Recession forecasts crushed as economy defies doomsayers TheStreet Daily Newsletter

Economy
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Strong retail sales, falling jobless claims, and high small business optimism have crushed recession fears. Walmart, NFIB, ISM, Atlanta Fed's GDPNow, and falling CBOE VIX signal resilience, but manufacturing struggles. Upcoming events like Jackson Hole, PCE Price Index, and Nvidia earnings will clarify the Fed's rate path and technology spending forecasts, shaping broader market sentiment.
Yahoo Finance
19. August 2024 um 12:15

Dow Jones Futures: Powell Due After Market's Best Week In 2024; Nvidia, AI Stocks Near Buy Points | Investor's Business Daily

Finance
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Dow futures open; Powell speech looms; market rally's best week; Nvidia, Meta, Arista near buy; Palo Alto, TJX, Cava earnings; ETFs like FFTY, IGV, SMH gain; XME, XHB, XLE advance; XLI, XLF rebound; Tesla surges.
Yahoo Finance
19. August 2024 um 09:18

Asia Shares Edge Higher With Jackson Hole in Focus: Markets Wrap

Finance
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Asian stocks rise ahead of central bank decisions; investors await Powell's speech at Jackson Hole; oil declines as US-led ceasefire efforts and Russia-Ukraine war escalation weigh; iron-ore prices fall on concerns over steel-industry crisis in China.
Yahoo Finance
19. August 2024 um 09:12

The S&P 500 Just Had Its Best Week of 2024. History Says the Stock Market Will Do This Next.

Finance
Economy
The S&P 500 had its best week of 2024, rebounding after a weak July and early August. Inflation hit a 3-year low, retail sales were strong, and Walmart raised its forecast, with CFO John Rainey saying consumer health was stable. The current bull market began on Oct. 12, 2022, when the S&P 500 reached its bear market low, and became official on Jan. 19, 2024, when it reached a new record high. Past S&P 500 bull markets have averaged 184% returns over 1,964 days, with a median of 104% returns over..
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