Stocks Higher Ahead of Jackson Hole Speakers

Stock markets around the world edged higher Friday ahead of a raft of speeches from top central bankers meeting in Jackson Hole, Wyoming.KEEPING SCORE: In Europe, France’s CAC 40 was up 0.3 percent at 5,126 while the FTSE 100 index of leading British shares rose 0.4 percent to 7,435. Germany’s DAX was 0.4 percent higher at 12,223. U.S. stocks were heading for modest gains at the open with Dow futures and the broader S&P 500 futures up 0.2 percent.

CENTRAL BANKS: The main focus across all financial markets is the symposium in Jackson Hole. The most watched events Friday will be speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi. Though neither is expected to relay anything substantial on their path of their banks’ future intentions, investors know that they could spring a surprise and won’t want to be caught short ahead of the weekend. Traders will be monitoring the event to see if Yellen says anything about the prospects of a Fed rate hike later this year and if Draghi gives a hint as to when the ECB will start reining back its stimulus. Anything he says about the strong euro will also be of interest.advertisement

ANALYST TAKE: “The Jackson Hole Symposium is widely regarded as one of the most notable annual events, not only because of the speakers it attracts but also because it has been used as a platform to warn of upcoming policy announcements,” said Craig Erlam, senior market analyst at OANDA.

Source: Global stocks edge higher ahead of key Jackson Hole events – Breitbart

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.