Top 5 things to watch in markets in the week ahead
investing.comInvesting.com — Federal Reserve officials gather for the central bank’s annual get-together at Jackson Hole, Wyoming with a speech by Federal Reserve Chairman Jerome Powell the main highlight. The deepening crisis in China’s property sector will remain to the fore, while PMI data out of the Eurozone and the UK will likely add to the gloom. Here’s what you need to know to start your week.
Investors will be looking to a speech by Fed Chair Jerome Powell for clarity on the economic outlook and the future path of interest rates.
Powell’s speech, set for 10:05 am ET on Friday, comes after last week’s minutes of the central bank’s July meeting showed that most policymakers are still concerned about upside risks to inflation, indicating that further rate hikes cannot be ruled out.
Investors will be focusing on whether the Fed head believes more policy tightening will be needed to bring down inflation, or if enough progress has been made to keep rates on hold. Market watchers will also be on the lookout for any clues on whether the Fed is weighing the prospect of rate cuts in 2024.
Traders see an 89% chance of the Fed holding rates at current levels at its September meeting, according to Investing.com's fed rate monitor tool.
With no major catalysts driving markets, investors will be focusing on Powell's speech on Friday for clues on the interest rate outlook as well as earnings from chip designer Nvidia (NASDAQ:NVDA), which is due to report on Wednesday.
Nvidia has had a stunning rally on expected growth in artificial intelligence, nearly tripling in value year-to-date.
Wall Street’s three main indices ended lower last week after a spate of strong economic data caused investors to dial back expectations of rate cuts and drove
Read more on investing.com
