Wobble.
Clarity around Ukraine failed to emerge over the weekend despite the US administration pumping out happy-clappy PR spin ahead of Trump’s meeting with Zelensky and the Europeans. The Federal Reserve began gathering in Jackson Hole for its annual boondoggle which always culminates in a closely-watched speech from the chairman. Earnings focus was set to switch to the major retailers.
So Wall Street was mostly in wait-and-see mode when the opening bell rang on Monday. Markets are trading as if a 0.25% rate cut in the Federal Funds Rate on September 17th was already in the bag (see INTEREST RATE…
The skinny
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