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  • Hi, this is Jeffrey Kleintop with 90  seconds on what we're watching this week.  

  • Now, starting on Thursday the Kansas City Fed  hosts its annual Jackson Hole Economic Policy  

  • Symposium. Fed Chair Powell may signal when  the Fed plans to start scaling back stimulus.  

  • During the conference on Friday morning, the July  Personal Consumption Expenditures Price Index,  

  • that's the inflation measure closely watched by  the Fed, will reveal whether the rapid pace of  

  • price increases continued in July or started to  fade, and that could certainly influence some  

  • of the developments. The economic surprise indexes for the U.S. and Japan... turned negative for  

  • the first time in over a year as data started to  be missed in economists' forecasts thanks in part  

  • to the rapidly spreading Delta variant bringing  another wave of infections in the U.S. and U.K.  

  • and elsewhere. Last week's July retail sales data  in the U.S. and the U.K. surprised on the downside  

  • and seemed to reflect some consumer hesitation  to spend. We expect the first business surveys  

  • for August, the PMIs, published on Monday, to be  closely watched for signs of a broader slowdown.  

  • Now, geopolitical events in Afghanistan may have  an unmeasurable human toll but little market  

  • impact. There is no supply chain disruption. The  pullout likely says little about U.S. support  

  • for other allies like Taiwan and there are no  Afghanistan stocks. Now, in domestic political  

  • events, the House returns to D.C. this week to  vote on $3.5 trillion spending and tax framework  

  • that the Senate approved the blueprint of earlier  this month. Once the House passes the framework  

  • both the House and Senate will work to fill  in all the details on spending proposals and  

  • tax increases by mid-September, also closely  watched by the market. Thanks for watching.

Hi, this is Jeffrey Kleintop with 90  seconds on what we're watching this week.  

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Weekly Market Outlook | August 24, 2021

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    洪子雯 posted on 2021/08/24
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