The Market Brief
U.S. futures paired some early losses after a sell-off in technology heavyweights showed signs of easing, as Nasdaq 100 logged its second-worst drop since April.
Impact Snapshot
🟥 FOMC Meeting Minutes - 2:00pm
Macro Viewpoint
Investors have been trimming back on big-name stocks, worried that the rally since April may have gone up too fast.
This week will be another test, with attention turning to Jackson Hole, Wyoming, where Fed Chair Jerome Powell is set to speak on Friday. Traders are already betting on a rate cut in September, but they’re waiting to see if Powell confirms that view.
Investors are waiting to hear whether Powell will validate current market expectations or counter them by stressing that fresh economic data arriving before the next policy meeting could alter the outlook.
They’re also scanning for hints about how the Fed foresees the pace of rate cuts extending into next year.
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