What’s in Today’s Report:
- The Key to a Weaker Dollar (And Higher Stock Prices)
Futures are modestly higher following a generally quiet night of news.
U.S./China trade talks ended with no specific future date to resume negotiations, but the tone from the meeting was constructive and that’s helping sentiment.
Economically it was a quiet night as Japanese CPI slightly missed estimates while German GDP met expectations.
Today the key event to watch is the Powell speech from Jackson Hole (10:00 a.m.). But, while that clearly has the potential to move markets, it’s widely expected that Powell will stick to the script and repeat much of what the Fed has said recently (pointing to a September rate hike and then quarterly hikes thereafter).
In addition to Powell, we also get Durable Goods Orders (E: -0.8%), but barring major surprises from either one, we can expect typically slow Friday in August trading.