The annual Jackson Hole Economic Policy Symposium may not bring the expected boost to stock markets this year. The event, which draws economists, central bankers, and business luminaries, has traditionally been seen as a positive catalyst for stocks in recent years.
However, according to Neil Dutta of Renaissance Macro, investors may want to exercise caution ahead of the gathering. “For equity investors, it might be wise to take some chips off the table heading into Jackson Hole,” he said.
The symposium takes place later this week and features a live address from the Federal Reserve chair on Friday. While the event is typically seen as a positive indicator for stocks, Dutta’s comments suggest that investors may need to reassess their expectations this year.
Source: https://www.marketwatch.com/story/stocks-often-rise-the-week-of-the-feds-big-jackson-hole-gathering-dont-count-on-it-this-year-c51250c8