Investors are on hold ahead of Federal Reserve Chairman Ben Bernanke’s annual speech in Jackson Hole, Wyo. starting this Friday.
Minutes released last week from the Fed’s latest two-day meeting, which ended on August 1, suggested that additional stimulus could come soon unless the economic recovery regains substantial and sustainable strength. But one day later, St. Louis Federal Reserve President James Bullard talked down the odds of anything imminent.
But then Bernanke reiterated that the Fed still has room to boost the economy if needed, in a written reply to Rep. Darrell Issa. The remarks boosted the market on Friday.
The Republican National Convention began today in Tampa, Fla. Presidential candidate Mitt Romney and his running mate, Wisconsin Congressman Paul Ryan, will deliver speeches that hopefully will shed light on their proposed policies.
Kraft (KFT) had a new 52 week high on Friday and is up a bit in premarket too.
0600 ET Chicago Fed President Evans speaks at an MNI Seminar in Hong Kong.
1030 ET Dallas Fed Aug manufacturing index expected -8.0, July -13.2.
1100 ET USDA weekly grain export inspections.
1130 ET Weekly 3-mo and 6-mo T-bill auctions.
1215 ET Cleveland Fed President Pianalto speaks on the economic outlook and monetary policy in Newark, OH.
1600 ET USDA Crop Progress.