Markets look to the Fed again to build on S&P 500 record as Congress continues to disappoint
- The Fed’s annual Jackson Hole symposium has gone virtual this year, but investors still look for it to provide insight in the coming week into what the central bank could do to help the economy.
- The keys may be in the Fed’s use of guidance and inflation targeting as a way to assure markets it will remain committed to easy policy until the economy can stand on its own.
- As markets expect clarity on Fed policy, they do not expect the same from Congress which continues to be far apart on what should be in the next round of fiscal stimulus.
- Politics is expected to become a bigger focus in the markets, as the Republican convention gets underway Monday after this past week’s Democratic convention.
What stocks to look out for this week:
Tesla (TSLA) – All time highs. Volatility ahead. Great stock to day trade going forward.
Apple (AAPL) – This stock is a strong one. Literally carrying the entire market on it’s back.If the tech bubble bursts, it’s not going to look pretty for Apple.
Novavax (NVAX) – Covid bubble is currently bursting. Get short while you can. I’ll be keeping a CLOSE eye on this one!
Draftkings (DKNG) – This has held up quite well over the last couple of weeks. Once sports betting ramps up this will no doubt be set for take off. Strong buy at these levels!