Nasdaq 100 Leads Stocks Higher as Jackson Hole Symposium Kicks Off

Stocks are pushing higher as the markets look to Friday’s slate of risk events for near-term direction. Tomorrow will see Federal Reserve Chair Jerome Powell deliver remarks following the release of PCE data at 8:30 EST. Stocks have cooled in August after a sharp rally in July, and Friday’s events could spark a sharp move across financial markets.

On the hourly timeframe, price has continued to hold above the 4160 level, despite long wicks into the abyss below. If price can take out this week’s highs at 4185, ES could look to squeeze to key Fib resistance at 4244. If Powell comes out hawkish, the lows may come under serious pressure and 4100 could come into play quickly.both come under pressure.

Should tomorrow’s PCE data come in soft, NQ could fly should US Treasury yields continue to come in. Recent Fedspeak has hinted that policy may need to be pushed into restrictive territory, potentially meaning a Fed Funds rate above 4% by year-end. So long that the rates market remains on a knife edge, NQ will follow suit.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Forex Today: Stocks Rise Ahead of Jackson Hole \u0026 GDP DataJackson Hole Symposium Starts Today; Chinese Stimulus Boosts Stocks; US Dollar Index Sells Off; US Preliminary GDP Data Due.
Source: Daily_Forex - 🏆 567. / 51 Read more »

European markets set to fall as hawkish Fed remarks dent global stocksEuropean markets are set to retreat Wednesday as new hawkish comments from a U.S. Federal Reserve policymaker keeps investors hesitant.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks are little changed following three-day slide for Dow, S&P 500Both the Dow and the S&P 500 declined for a third straight session Tuesday on thin trading volumes.
Source: CNBC - 🏆 12. / 72 Read more »

Strategists: Global stocks in for a chilly winter – Reuters pollEarly Thursday, Reuters unveiled survey details of analysts who cut year-end predictions for most major indices from three months ago and warned the r
Source: FXStreetNews - 🏆 14. / 72 Read more »

Why the stock market slumped and what comes next, according to expertsAnalysts differed over whether this week's downturn marks a brief hiccup or a sign of more losses to come. Hmmmm Is Biden still President? Welp.... .....more loses are coming.... Duh Let the rich continue to lose. I’m pro government just not for corruption like this
Source: ABC - 🏆 471. / 51 Read more »

Why the stock market slumped and what comes next, according to expertsStocks fell after a two-month rally, but analysts differed on a return to gains.
Source: 6abc - 🏆 250. / 63 Read more »