Dow Jones, Nasdaq, S&P 500 weekly preview: Powell's Jackson Hole speech in focus
U.S. stocks climbed on Friday, capping off the strongest week of 2024, as the market rebounded from the sharp downturn seen earlier in August.
For this week, markets will center on several key economic events, including the release of jobless claims and existing home sales data on Thursday, along with the minutes from the July FOMC meeting, which will be published on Wednesday. “There are good arguments for our baseline view of consecutive 25bps cuts at each of the next three meetings. However, there are also compelling points for moving faster. Ultimately, we think data dependence by the Fed could limit the forward guidance Powell provides as it will be difficult to pre-commit to a particular trajectory.”
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