Investors Look For Clues On September Rate Cut At Jackson Hole: How Does Stock Market Perform During Fed Symposium?
Portfolio Pulse from Piero Cingari
The Jackson Hole Economic Symposium is a key event for financial markets, with investors anticipating signals from Fed Chair Jerome Powell on a potential September rate cut. Market consensus expects a 25-basis-point cut, with a 77.5% probability, as per CME Group's FedWatch tool. Historically, the S&P 500 has shown mixed reactions during the symposium, with an average decline of 0.4% during the event days but a modest gain of 0.4% over the week.
August 19, 2024 | 5:46 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is likely to experience volatility during the Jackson Hole Symposium as investors look for clues on a potential September rate cut. Historically, the S&P 500 has shown mixed performance during the event.
The SPY, which tracks the S&P 500, is directly impacted by the Jackson Hole Symposium as it influences market expectations on interest rates. Historical data shows mixed performance during the event, suggesting potential volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80