How Things Stand in the Market as of Sunday, August 18, 2024

Dominating next week, is the minutes of the Fed’s last FOMC meeting Wednesday Morning, and Federal Reserve chief Jerome Powell speech at the Kansas City Fed’s Jackson Hole Economic Policy Symposium on Friday at 10 a.m. ET. In addition to covering the U.S. economic outlook, the keynote address will likely indicate that the central bank is poised to begin Fed rate cuts gradually as economic conditions dictate. Fed governor Waller, and Fed president Bostic will be speaking Monday morning and Tuesday afternoon respectively.

With recent economic data once again suggesting a soft-landing scenario for the economy, markets are pricing in a quarter-point rate cut on Sept. 18th, with perhaps 75-100 basis points for the rest of the year. Meanwhile, earnings season quiets down, but still has a few potential market-moving releases, like Analog Devices’ (ADI) and Workday (WKDY)