The Dow Jones Industrial Average cycled familiar territory on Tuesday.
The equity index is holding near 41,000.00 as investors take a breather.
Equities poised for further upside as investors brace for Jackson Hole.
The Dow Jones Industrial Average (DJIA) churned on Tuesday, eking out a fresh two-week high near the 41,000.00 handle but overall holding close to the day’s opening bids as markets shuffle in place with key activity data and major central bank appearances in the barrel this week.
US Purchasing Manager Index (PMI) business activity survey results are slated for release on Thursday, as well as the kickoff of the annual Jackson Hole Symposium which is set to run through the weekend. Wednesday will deliver the Federal Reserve’s (Fed) latest Meeting Minutes, but market forces will broadly be looking ahead to Thursday’s outings for reasons to move.
US S&P Global Manufacturing PMI activity expectations are forecast to hold steady at 49.6 in August, while the Services PMI component is expected to tick down a full point to 54.0 from 55.0. The kickoff of the Jackson Hole Symposium is expected to draw plenty of investor attention on Thursday, but Friday’s appearance from Fed Chairman Jerome Powell can be expected to set the overall tone of market sentiment heading into next week.
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