George Noorey

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George Noorey

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This week's Central Bank Jackson Hole rodeo is ready for kickoff, starting with minutes from the Fed's July 30-31 policy meeting, when officials voted to lower interest rates for the first time since 2008. Traders will look for signs of disagreement on the FOMC, and clues to what the central bank might do next. The event will be followed by tomorrow's ECB minutes and the Jackson Hole symposium on Friday, where the focus will turn to Fed Chair Jerome Powell's tone and signals of further easing. (SA)

 

The US and Japan are racing to clear the final hurdles of a partial trade deal that could be finalized as early as next month, according to people familiar with the matter. The deal could involve Japan opening up to American agricultural goods in exchange for cuts to US industrial tariffs and immunity from levies against its carmakers. (FT).

 

Blowout quarters from US retailers Target and Lowe’s sent their share prices up sharply in pre-market trading as Americans continue to spend despite the gloom hanging over the global economy.  Shares in big-box retailer Target were up 15 per cent ahead of the Wall Street open, while home improvement chain Lowe’s added 12 per cent as both posted stronger-than-expected sales growth during the second quarter.  Lowe’s, which has been pursuing a turn-around program amid pressure from rising costs, reported same-store sales rose 2.3 per cent, ahead of estimates of 1.7 per cent. Target, meanwhile, said sales at established stores were up 3.4 per cent, topping forecasts for a 3 per cent advance in this closely watched same store sales measure. (CNBC)

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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