Markets will be focused on the Jackson Hole meeting this week

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Stocks began the day relatively unchanged from Friday. This week there isn’t much on the economic calendar that will grab focus. This is the annual Jackson Hole symposium of global and US economists and central bankers meeting. The Jackson Hole meeting begins on Thursday, the theme is “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy”. Fed Chair Jerome Powell is expected to deliver the keynote address on Friday. Will he green light a rate cut next month? How will he frame the current Fed’s outlook? Presently there is little doubt that the Fed will cut rates at the September 17th FOMC meeting, although if you look hard enough there are still skeptics out there. The focus will be on whether Powell and the other Feds are thinking about more cuts later this year.

At 9:30 am the DJIA opened -34, NASDAQ -87, S&P -5. 10 year 4.32% unchanged. FNMA 6.0 30 year coupon at 9:30 am +3 bps from Friday’s close and -4 bps from 9:30 am Friday.

At 10 am August NAHB housing market index thought to be unchanged at 33, reported at 32.

This Week’s Economic Calendar:

  • Monday,

  • 10 am August NAHB housing market index (expected at 33 unchanged from July, as reported the index 32).

  • Tuesday,

  • 8:30 am July housing starts and permits (starts 1.290 million from 1.321 million; permits 1.390 million from 1.397 million)

  • Wednesday,

  • 7 am weekly MBA mortgage applications

    1 pm 20 year bond auction

    2 pm FOMC minutes

  • Thursday,

  • 8 am Jackson Hole begins

    8:30 am weekly jobless claims (224K unchanged from the previous week)

    August Philadelphia Fed business index (8.0 from 15.9)

    9:45 am August Flash PMI indexes (manufacturing 49.7 from 49.8, services 53.0 from 55.7)

    10 am July existing home sales (3.900 mil from 3.93 mil)

    July leading economic indicators (-0.1% from -0.3% in June)

  • Friday,

  • 10 am Jerome Powell speaks at Jackson Hole

Source: TBWS


All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

Southern Oaks Mortgage, Inc. is a licensed Broker/Lender with the CA DRE Lic. #01458657, NMLS #237717

Jeffrey Eisenberg

President/Broker

NMLS: 236681

Southern Oaks Mortgage, Inc.

25060 Avenue Stanford, STE 255, Valencia CA

Company NMLS: 237717

Office: 661-964-2600

Cell: 661-904-5989

Email: jeff@somloans.com

Web: http://www.somloans.com

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Jeffrey Eisenberg

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President/Broker

NMLS: 236681

Cell: 661-904-5989


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