Powell’s Jackson Hole Signal on Rates Is Good for Just 1 Cut
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The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.
Lawrence G. McMillan is president of McMillan Analysis, a registered investment and commodity trading advisor. McMillan may hold positions in securities recommended in this report, both personally and in client accounts. He is an experienced trader and money manager and is the author of “Options as a Strategic Investment.” www.optionstrategist.com.
Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
Opendoor's vocal supporter Anthony Pompliano took to X to celebrate Powell's remarks and what interest rate cuts could mean for the company. "Interest rate cuts are big for OPEN. Powell can unfreeze the housing market," Pompliano wrote.