Three Things to Watch
- U.S. Federal Reserve (Fed) Chairman Kevin Warsh will speak Friday morning at the Jackson Hole Economic Policy Symposium hosted by the Federal Reserve Bank of Kansas City. Investors will be listening closely for his views on the economy, inflation and the path of monetary policy after the Fed left the July Federal Open Market Committee meeting divided.
- Nvidia will release earnings Wednesday after the market closes and investors will look for forward guidance as a way to measure whether the artificial intelligence sector has further to run this year. The stock is up 15.1% year to date, and the options markets is pricing for a 6% move after earnings are released, typical for the company.
- The Fed’s favored inflation measure will be out Friday morning before Chairman Warsh’s speech. The Fed used core personal consumption expenditures to track inflation, and the data series remains elevated. It is expected to come in unchanged at 3.3% year over year, well above the 2% stated target.
Three Things to Know
- Rookie outfielder Joshua Baez is the first player in Major League history with three home runs in his first three plate appearances. (Source: St. Louis Cardinals)
- U.S. retail money market fund assets jumped +$202 billion year over year in June to a record $3.05 trillion. Since 2022, retail money market fund assets have more than tripled. This is also twice as large as the peak recorded following the 2020 pandemic. Retail money market fund assets have grown at a +14% compounded annual growth rate since the start of 2019. The average money market fund yield is currently 3.57%, according to the Crane 100 Money Fund Index, which tracks the 100 largest money market funds. (Source: The Kobieissi Letter)
- Elvis Presley died at the age of 42 on August 16, 1977. He is one of the best-selling music artists in history with worldwide record sales estimated at 500 million and tied with Madonna for top 10 and number one hits with 38. (Source: Wikipedia)
The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.
5864934- EXP: 08/31/2029