Stocks Extend Slide
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Stocks start the week just shy of record highs, underpinned by a well-received corporate earnings season and hopes the Federal Reserve will soon start reducing official borrowing costs again. Investors are therefore keen that Friday’s keynote address by Fed Chair Jerome Powell at the Jackson Hole symposium will be suitably dovish.
The Dow, S&P 500, and Nasdaq are falling as the stock market looks ahead to the Federal Reserve's Jackson Hole Symposium.
The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
JPMorgan expects potential asset rotation to inject as much as US$1.9 trillion of liquidity into the onshore market.
Liquidity constraints pose a significant challenge for BTC bulls looking to engineer a steep uptrend well into the year-end.
The takeaway is that markets aren’t pricing in any sort of “succession premium” tied to any one chairman. The glidepath of monetary policy — regardless of Powell’s successor — appears structural, anchored to the Fed’s backward-looking framework . If that holds, it would mark a break from recent history.
U.S. stock-market futures rose slightly Sunday, after Friday’s summit between U.S. and Russian leaders ended without a major breakthrough and as investors await this week’s Fed gathering in Jackson Hole,