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Will Jerome Powell Address Stock Market at Jackson Hole?

(8/24/23) NVDIA's earnings report blows off the doors; market action will be driven by this news today. But NVDIA outlook is for slower growth moving forward. The company is fast on track to be as big if not bigger than Microsoft. Meanwhile, Wall Street is starting to ratchet down estimates for 2024, approaching reality. Can the S&P clear 4,400 with seasonal weakness still ahead? The Jackson Hole Preview: former Fed Gov. Bullard sees economic growth as a threat, requiring higher interest rates; Fed forecast; Higher for Longer. Will Jerome Powell address the "Neutral Rate" (2%) thesis? The Fed always expects stronger growth, but... Bond Bulls vs Bears: Debt creates growth as it is spent, but becomes a net drag on economic growth; the trend of growth is slowing. Markets are hopeful for a positive Fed, with rate cuts next year. What will be the impact of AI on productivity and the economy? Same effect as the World Wide Web: Productivity growth continues to slip; the threat of AI: Replacing high-wage earning jobs, reducing labor multiplier effect. The markets' rally is narrow; where do we go from here? The Mega Cap differential; how higher rates will affect earnings. Will Powel address the stock markets; is 3% inflation "good enough?"

3:04 - NVDIA Blows Off the Doors
14:36 - Jackson Hole Preview
30:11 - What's the Impact of AI on Economy & Productivity?
44:17 - The Narrow Market Rally: Where do we go from here?

Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Portfolio Manager Michael Lebowitz, CFA
Produced by Brent Clanton, Executive Producer
The latest installment of our new feature, Before the Bell, "Markets Battle with Cluster of Resistance" is here:
Our previous show is here: "What Do Rising Treasury Yields Mean?"
Articles mentioned in this report:
"Bond Traders And Their Bearish Stories"
"Stock Market Rally Coming? And Investing In 2024"
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Lance Roberts
Finally, financial news that makes sense. Lance Roberts, the host of "StreetTalkLive", has a unique ability to bring the complex world of economics, investing and personal financial wealth building to you in simple, easy and informative ways but also makes it entertaining to listen to at the same time.
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