The Jackson Hole symposium of central bankers and more retail earnings grab the spotlight on Wall Street next week.
On Friday, Federal Reserve Chair Jerome Powell delivers his remarks on monetary policy at the annual gathering of central bankers at Jackson Hole, Wyoming. He has been relentlessly attacked by President Donald Trump, who has been pressuring him to cut rates, arguing that other countries are doing so. The speech comes one week after a closely watched bond market indicator pointed to a renewed risk of recession.
Mercadien Asset Management president, Ken Kamen:
SOUNDBITE: MERCADIEN ASSET MANAGEMENT PRESIDENT, KEN KAMEN (ENGLISH) SAYING:
"I don't really expect any surprises. I think they're going to say things like we're going to continue reviewing it, accommodation is likely. We're going to do things as events dictate."
Look for improved results from the home improvement sector. Home Depot will likely report an increase in quarterly same-store sales Tuesday; ditto with rival Lowe's Wednesday. On the conference call, investors will be on the lookout for commentary from executives on the impact of any potential tariffs and the outlook for home building this year.
Tariffs will also on the minds of investors who own department store stocks. Expect Kohl's to report a drop in same-store sales on Tuesday, weighed down by excess spring inventory. The next day, Nordstrom will likely post declining revenue and profit. The upscale retailer keeps boosting promotions in stores to lure shoppers.