Markets today: Stocks drift as caution reigns before Jackson Hole

BNN Bloomberg's Jon Erlichman looks at how North American markets are shaping up for the trading day.

The S&P 500 fluctuated. Advanced Micro Devices Inc. agreed to buy server maker ZT Systems in a deal valued at US$4.9 billion. Estée Lauder Cos. gave a disappointing sales forecast. Lowe’s Cos, Target Corp. and TJX Cos are among the major retail names reporting this week. Investors continued to snap up shares, with U.S. equity funds just logging their seventh-consecutive week of inflows, according to the latest data from Bank of America Corp. and EPFR Global.

Recent economic data and earnings readouts have reinvigorated confidence among JPMorgan Chase & Co. traders that U.S. stocks can rally into the end of the year. The trajectory for stocks is likely to be dictated by the week-to-week cadence of macroeconomic data until August’s key jobs report, due in the first week of September, according to Morgan Stanley strategists led by Michael Wilson.

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European stocks extend rally as focus shifts to Jackson HoleEuropean stocks edged higher, extending last week’s sharp rally, as investors awaited further clues on the U.S. economy from the Jackson Hole economic symposium.
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European stocks extend rally as focus shifts to Jackson HoleEuropean stocks edged higher, extending last week’s sharp rally, as investors awaited further clues on the U.S. economy from the Jackson Hole economic symposium.
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Traders Need Fed Go Sign in Jackson Hole to Keep Stocks Rallying(Bloomberg) -- Wall Street is betting that Federal Reserve Chair Jerome Powell will confirm that interest-rate cuts are coming at the central bank’s annual...
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Stock market today: US futures steady as countdown to Jackson Hole beginsStocks traded on both sides of the flat line on Friday after a strong week of gains had US stocks on pace for their best week of the year.
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