Pause Before Powell: With Fed Chair’s Speech Tomorrow In Focus, Directionless Day Possible

Pause Before Powell: With Fed Chair’s Speech Tomorrow In Focus, Directionless Day Possible

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Key Takeaways:



Lack of direction early on in stocks, but 10-year yield moves higher

Powell speech tomorrow expected to focus on Fed's inflation policy

Retail earnings roll on after Salesforce reports strong quarter



Though Fed meetings don't have much drama in the COVID-19 era, any speech by Fed Chairman Jerome Powell can still put investors on the edge of their seats. Tomorrow's Jackson Hole symposium—which won't be in Wyoming for obvious reasons—is a good example.



It sounds like Powell's going to be talking inflation in his speech after tomorrow's opening bell, and the 10-year Treasury yield has been creeping up as investors await his words. While stocks have a mixed tone this morning, it's interesting