Dow set to rise 100 points at the open as Jackson Hole summit kicks off

[tacobell fan]

U.S. stock index futures rose on Thursday as investors looked ahead to the start of a central banking summit in Jackson Hole, Wyoming.

Around 8:10 a.m. ET, Dow Jones Industrial Average futures traded 41 points higher, indicating a gain of 72 points at the open. S&P 500 and Nasdaq 100 futures also pointed to slight gains.

 

The summit kicks off on Thursday. Philadelphia Fed President Patrick Harker and Dallas Fed President Robert Kaplan are both set to comment on the world’s largest economy later in the day.

Kansas City Fed President Esther George told CNBC’s Steve Liesman that the Fed should not have cut interest rates last month, stating that “it wasn’t required in my view. ” Treasury yields ticked up after her comments aired.

The Fed cut interest rates by 25 basis points in July. Market expectations for another rate cut in September are at 93.5%, according to the CME Group’s FedWatch tool. 

This year’s annual symposium on central banking comes amid worries over a recession while the U.S.-China trade war drags on. In fact, the bond market briefly flashed a recession warning signal on Wednesday. 

The widely watched 2-year/10-year U.S. yield curve, often monitored as precursor for recession, flattened and then briefly inverted after the Fed released the minutes from its July meeting. 

 

In corporate news, Dick’s Sporting Goods and Nordstrom each jumped more than 7% after reporting better-than-expected earnings for the previous quarter. BJ’S Wholesale Club rallied more than 8%.

On the data front, the latest weekly jobless claims report will be released at 8:30 a.m. ET.

Leading index data for July and the Kansas City Fed survey, manufacturing Purchasing Managers’ Index (PMI) and services PMI for August will all follow slightly later in the session.

[siru]

jackson hole is an awesome place

[tacobell fan]

1 hour ago, siru said:

jackson hole is an awesome place

Wyoming 

[siru]

33 minutes ago, tacobell fan said:

Wyoming 

yaa i went there..its close to  yellow stone

[dasara_bullodu]

Ya superb place 

[LazyRohit]

thread endi mee replies endi place is awesome a  papam @tacobell fanpade kashtam meeku ardam katle