The Jackson Hole press release had traders feeling there may be fiscal hope going into September, leaving the S&P 500 (SPY) +4.7% higher. That plus “less worse than expected” hurricane damage, and a transition into positive seasonality may support current to higher prices next week (although shorter-term models are looking for a pullback early in the week). Note that next week brings a very busy economic calendar, as linked below. To those of you who did feel the impact of the storm over the weekend, a speedy recovery to you.
[Week 35 Economic Calendar]
Source: Mrkt_Commentary subscription service; prior weekly posts.
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