Countdown to Jackson Hole: US Stocks Steady as Investors Await Powell's Speech

US stocks remain steady near record levels as investors eagerly anticipate Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium. Expectations for a potential rate cut are high, with traders pricing in a 0.25% or 0.50% cut.

Recession concerns have eased following positive inflation and consumer data, leading Goldman Sachs to lower the likelihood of a recession. The start of the Democratic National Convention adds to the market focus, particularly on Kamala Harris.

Major indexes have been fluctuating, but the overall sentiment is positive as the market reacts to encouraging economic indicators. The upcoming speech is seen as crucial for providing insights into the Fed's future rate path.

Retail earnings from Lowe's, Target, and other key retailers are also in focus this week. As the countdown to Jackson Hole continues, investors are closely watching for any clues that could impact market direction and sentiment.