WEEKLY MARKET OUTLOOK:đđ
⢠Mon: Durable Goods Orders; $PDD Earnings
⢠Tues: Consumer Confidence; $S Earnings
⢠Wed: Fedâs Waller Speech; $NVDA $CRWD $CRM $ANF $FL $KSS Earnings
⢠Thurs: Jobless Claims, Q2 GDP, Pending Home Sales; $ULTA $LULU $BBY $DG $DELL Earnings â ď¸
⢠Fri: PCE Inflation, Consumer Sentimentâ ď¸
-On Friday in the U.S., all three major indexes rose after Powellâs comments, with the Dow Jones Industrial Average up 1.14%, while the Nasdaq Composite advanced 1.47%. The S&P 500 gained 1.15%.đ
- A gauge of global stocks traded near its record high Monday as the prospect of Federal Reserve interest rate cuts on the horizon stoked sentiment.
- The Fedâs dovish tilt also lifted the yen against the dollar, as Asian-domiciled funds added to existing short positions on the greenback.
- Powellâs keenly awaited Jackson Hole speech constitutes a turning point in the Fedâs two-year battle to slow inflation, and means officials are likely to cut the benchmark interest rate from its highest in more than two decades.
- While the worldâs largest economy is showing signs of cooling â warranting a pivot â thereâs no sign yet of an outright contraction.
-âThe time has come for policy to adjust,â the central bank leader said at Jackson Hole, Wyoming. âThe direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.â
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