Next week, investors will shift their focus to the Fed's Jackson Hole symposium.
 | FRI, AUG 16, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | PFE | 34.65 | +0.17 | +0.49% | | AAPL | 206.50 | +4.76 | +2.36% | | CSCO | 46.96 | +0.71 | +1.54% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 8.79 | +0.78 | +9.74% | | AMD | 31.18 | +1.51 | +5.09% | | BAC | 27.03 | +0.78 | +2.97% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 31.18 | +1.51 | +5.09% | | AAPL | 206.50 | +4.76 | +2.36% | | NVDA | 159.56 | +10.79 | +7.25% | |
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Stocks bounced back to close out a wild Wall Street trading week as rebounding bond yields eased some of the recession signals that have been weighing on stocks. Next week, investors will shift their focus to the Fed's annual Jackson Hole, Wyoming, symposium. If markets get their way, Fed Chairman Jerome Powell will use the meeting to clarify whether the central bank is at the beginning of a serious rate-cutting cycle — or just looking to lower a few times as "insurance" against a possible downturn, CNBC's Patti Domm writes in her weekly look ahead. After the last Fed meeting, Powell discussed the quarter-point rate cut as a "midcycle adjustment," implying the central bank was looking at just a few reductions. That shook markets, and since that comment interest rates have plunged, along with global bond yields, as investors fled to safe haven assets. Bond yields rattled markets this week, but climbed back from their historic lows by Friday.  Powell kicks off the Fed's symposium out West with a speech Friday, which is the main focus of markets in the week ahead, Domm writes. The Fed also releases on Wednesday afternoon the minutes of its last meeting, and it is expected to detail discussions around its decision to cut interest rates for the first time in more than a decade. Quincy Krosby, chief market strategist at Prudential Financial, tells Domm that investors are crossing their fingers that Powell "moves away from the 'midcycle adjustment' commentary and transition toward an easing cycle." On Thursday and Friday of next week, CNBC's Steve Liesman will sit down with key officials to talk about the U.S. and global economic outlook, the threat of recession, the prospect of rate cuts and more. Enjoying the CNBC Evening Brief newsletter? Tell us how we're doing and what we can do better by filling out this simple survey. |
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