- Reuters/Steve Marcus
Here is what you need to know.
The Fed’s Jackson Hole symposium kicks off. The conference, titled “Fostering a Dynamic Global Economy,” takes place from Thursday to Sunday and will feature speakers including Federal Reserve Chair Janet Yellen and European Central Bank head Mario Draghi.
Brexit uncertainty bites the UK. A second estimate from the Office for National Statistics showed the United Kingdom’s economy grew at a 0.3% rate in the second quarter, making for the second-slowest growth since the beginning of 2016.
Hedge funds can’t stop betting on the stock market’s secret weapon. The weak dollar has been the secret weapon that is boosting stocks higher, and hedge funds haven’t been this bearish on the greenback in three years.
The Amazon-Whole Foods deal gets the green light. The Federal Trade Commission announced on Wednesday that it was no longer pursuing its investigation into whether the $13.7 billion deal would be anticompetitive.
Samsung’s Galaxy Note 8 is here. The Note 8, which starts at $960, will be available for preorder on Thursday and will hit stores on September 15.
Uber’s loss shrinks. The ride-hailing company saw its loss shrink by 9% in the second quarter to $645 million as its cash hoard fell to $6.6 billion from $7.2 billion.
There was one lucky Powerball winner. A ticket sold in Watertown, Massachusetts, had all five numbers and the Powerball, making its lucky holder the lone winner of the $759 million jackpot.
Stock markets around the world are mostly higher. Hong Kong’s Hang Seng (+0.43%) was out front in Asia, and Britain’s FTSE (+0.44%) leads in Europe. The S&P 500 is set to open little changed near 2,445.
Earnings reports keep coming. Abercrombie & Fitch, Dollar Tree, Sears, and Staples report ahead of the opening bell, while GameStop and VMware release their quarterly results after markets close.
US economic data is light. Initial claims will be announced at 8:30 a.m. ET, and existing-home sales cross the wires at 10 a.m. ET. The US 10-year yield is up 1 basis point at 2.18%.