The Fed’s Jackson Hole meeting and a key inflation reading: What’s coming this week.
Home sales: The National Association of Realtors will publish data on sales of existing homes. Sales bounced back in June after a four-month decline, but higher prices and a shortage in inventory continue to threaten the market.
Best Buy earnings: The electronics retailer could see gains in its second quarter, which ran through the end of July, as the latest retail sales data showed an increase in electronics sales last month.
Nordstrom earnings: Investors will learn whether Nordstrom’s efforts to attract younger customers and lose its ties with malls helped increase revenue.
Jackson Hole symposium: Central bankers will meet virtually for an annual gathering traditionally held in Jackson Hole in Wyoming. Jerome H. Powell, the Fed’s chair, will speak on Friday and is expected to reveal details about how and when the bank plans to begin winding down its bond-buying program, one of several policies it created to reduce the economic impact of the pandemic.
Personal consumption expenditures: The Federal Reserve’s preferred inflation gauge will provide insight into how much and how quickly rising prices might fade. The Fed continues to say it believes the recent pop in inflation is transitory.
Consumer sentiment: The University of Michigan will report its final results for August for its consumer sentiment reading. Preliminary results showed consumer confidence tumbled more than 13 percent in early August from July, signaling a slowdown in the economic recovery.
Source: Read Full Article