With the market's recession fears having cooled for now, investor focus has shifted to what Federal Reserve chair Jerome Powell says about interest rate cuts...
In the week ahead, a quiet week on the economic calendar will shift the market focus to the Federal Reserve as Chair Jerome Powell is expected to speak Friday morning at the Jackson Hole Symposium. Investors will be closely listening for hints on when, and how much, the Fed plans to cut interest rates in 2024.A busy economic data week played a pivotal role in the stock rebound this week.
"The easiest thing for Chair Powell to do would be to repeat his message from July," Gapen wrote. "An evolution of the July FOMC language would suggest the committee is 'very close' or 'close' to the point where easing is likely to occur. A more dovish signal could be a statement that the committee wants to avoid 'unexpected weakness' in the labor market, rather than simply responding to it after it occurs.
"With the market pullback, especially the more aggressive pullback on the growth side of the market, sentiment looks much more balanced now than it did heading into this month," Citi US equity strategy director Drew Pettit told Yahoo Finance. Millennials Are Sharing The 'Older Person' Hills They'll Die On, And Boomers May Have A Point About TheseMicrowaves offer convenience at the push of a button, but that can also make it exceedingly easy to commit a risky kitchen mistake. Here's how.Calgary pipe woes flag 'dire need' for infrastructure upgrades: municipalities group
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