Jackson Hole, Jerome Powell
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Jackson Hole, stocks
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The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
Jerome Powell has the ideal platform Friday to deliver a clear signal the Federal Reserve is about to resume cutting interest rates. But the economy isn’t giving him an equally clear signal that now is the time.
Liquidity constraints pose a significant challenge for BTC bulls looking to engineer a steep uptrend well into the year-end.
Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the Federal Reserve's July meeting minutes and the Jackson Hole, Wyoming symposium of central bankers this week for cues on further rate cuts.
Bitcoin fell below $113,000, pulling the crypto market down 1.5% to $3.9t as profit-taking deepened ahead of Powell’s Jackson Hole speech.