U.S. stock futures were largely flat Monday evening as the market awaits a major week driven by key Federal Reserve speeches and major retail earnings reports. Futures on the Nasdaq 100 (NDX), the Dow Jones, and the S&P 500 Index (SPX) were up 0.08%, 0.07%, and 0.06%, respectively, at 6:58 p.m. EDT on August 18.
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This week, all eyes are on Federal Reserve Chair Jerome Powell, who is expected to provide insights into the central bank’s monetary policy for the remainder of the year. Powell will be speaking at the Fed’s annual economic symposium in Jackson Hole, Wyoming, a gathering of central bank officials from around the world.
According to CME’s FedWatch tool, the fed funds futures market is currently pricing in an 84.9% probability of a quarter-point rate cut at the Fed’s next meeting in September.
In addition, investors are awaiting earnings reports from major retailers for a snapshot of consumer health. Home Depot (HD) is scheduled to report on Tuesday, followed by Lowe’s (LOW), Walmart (WMT), and Target (TGT) later in the week.
On Monday’s regular trading session, the Dow slipped 0.1%, the S&P 500 edged down slightly, and the Nasdaq Composite rose just under 0.1%.
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