Here's How U.S. Stocks Historically Perform Around the Fed's Jackson Hole Gathering
Companies seem confident about their 'near-term earnings power,' says DataTrek's Nicholas Colas. U.S. stocks historically rise around the Federal Reserve's annual Jackson Hole Economic Policy Symposium - a gathering this week that will be closely watched by investors on Friday, when Fed Chair Jerome Powell is scheduled to give a speech, according to DataTrek Research."The S&P 500 tends to rally over the 2 weeks on either side of the Fed's Jackson Hole conference, with returns coming mostly after the Chair's speech," said DataTrek co-founder Nicholas Colas in a note emailed Monday. "We expect to see the same pattern this year.". DataTrek considers 2022, when the S&P 500 saw a big slump around the time of Jackson Hole, as "an outlier year given the Fed's aggressive monetary policy" aimed at taming high inflation with a series of interest-rate hikes.Meanwhile, companies don't seem all that worried about a recession in the near term, at least judging by their recent earnings call
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U.S. Stocks to Watch | Nvidia, TSMC, GameStop, Novavax, Lululemon, Five Below, and More
US stock futures were flat on Thursday after the S&P 500 and Nasdaq indexes hit record closing highs on Wednesday, powered mainly by technology stocks as markets digested economic data that could supp
Post-Bell | S&P 500, Nasdaq Close at Record Highs; Nvidia Rises 5%; Lululemon Soars 10%
The S&P 500 and Nasdaq indexes hit record closing highs on Wednesday, powered mainly by technology stocks as markets digested economic data that could support a much-expected start to the Federal Rese