Jackson Hole meeting: Stocks fall as markets prepare for Powell's Friday speech
MarketWatch provides live coverage of the Federal Reserve's meeting in Jackson Hole, with a focus on Chair Jerome Powell's speech.
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Posted 8/24/2023, 2:25:00 PM
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Fed Chair Jerome Powell's speech and eurozone sentiment data releases will be in focus next week, while policymakers in the UK will be looking for inflation clues in the PMI releases.
The market is focused on the Jackson Hole Symposium for any policy changes from Fed Chair Jerome Powell, with investors eager to know if higher rates for longer are necessary. The market reaction will depend on Powell's message regarding rate hikes and cuts.
Federal Reserve Chairman Jerome Powell will likely provide updates on the central bank's stance on interest rates in the US during the Jackson Hole meeting, although an announcement regarding the end of interest rate hikes is less likely due to positive economic data and the potential risk of triggering another crisis.
Investors will be observing the proceedings at the Federal Reserve's annual mountain retreat for insights into the central bank's monetary policy.
Federal Reserve Chair Jerome Powell is expected to give a nuanced speech at the Jackson Hole symposium, leaving room for further interest rate increases if inflation persists, which may rattle markets already concerned about rising borrowing costs.
Fed Chair Jerome Powell's speech at the Jackson Hole symposium is expected to introduce volatility in both traditional markets and the crypto market, with the direction of the volatility depending on Powell's hawkish or dovish tone.+
Investors brace for Federal Reserve Chair Jerome Powell's keynote address at the annual central banking symposium in Jackson Hole, which is expected to provide a sobering assessment of the long-term interest rate trajectory and has led to the dollar soaring and the euro/dollar exchange rate plunging to its lowest level in over two months.
Federal Reserve Chair Jerome Powell's speech at Jackson Hole could trigger a move higher in bond yields, leading investors to consider switching to value stocks, which are currently underperforming growth stocks, according to Vanguard.
Markets are anticipating economic data following Powell's speech, leading to a rise in equities.
Investors eagerly awaited Nvidia's earnings report, which beat expectations, but the market rally was short-lived due to Federal Chair Jerome Powell's speech at Jackson Hole, with the Nasdaq falling over 2% and bulls losing hope; however, there is optimism for a potential turnaround next week with upcoming economic data events.
Investors are focused on Jerome Powell and the Federal Reserve's upcoming policy decision, as well as earnings reports from FedEx and the impact of the United Auto Workers strike on companies like Stellantis, GM, and Ford.
The Federal Reserve Chair, Jerome Powell, is likely to keep tabs on the CME Group's FedWatch Tool, which provides consensus predictions on interest rate decisions, in order to avoid surprising markets with monetary policy decisions.