How are stock-index futures trading:
S&P 500 futures are down 0.02%.
Dow Jones Industrial Average futures are down 0.03%.
Nasdaq 100 futures are down 0.1%.
On Friday, the Dow Jones Industrial Average increased 97 points, or 0.24%, to 40,659, the S&P 500 increased 11 points, or 0.2%, to 5,554, and the Nasdaq Composite gained 37 points, or 0.21%, to 17,632.
Futures prices indicated markets are now set to open the week with a slight dip. The seven-session gain for the S&P 500 of 6.8% is the best since October 2022.
Investors this week will be closely watching Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium in Wyoming, where it is expected he may offer signals on the timing and pace of rate cuts.
Deutsche Bank said its U.S. economists expect Powell’s speech will “signal that the Fed has gained sufficient confidence that it will soon be appropriate to begin easing policy, with rate cuts justified by both sides of the Fed’s dual mandate.”
On Monday, cosmetics giant Estee Lauder and cybersecurity firm Palo Alto Networks will both publish results. Later in the week will also see the publication of Zoom’s earnings on Wednesday and Baidu’s results on Thursday.
In terms of economic data, this week will also see the publication of flash August PMI data for the U.S., Eurozone, U.K. and Japan on Thursday alongside publication of the Quarterly Census of Employment and Wages on Wednesday and the Fed’s minutes of the July meeting.
Monday will also see opening of the Democratic National Convention in Chicago, which is expected to be attended by tens of thousands of activists who are preparing a major protest over the Biden administration’s position toward the war in Gaza.
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