Important News To Know About Friday
Publish Date : 2019/08/23 - 11:51

1. Powell to dominate market attention at Jackson Hole

Federal Reserve Chairman Jerome Powell is scheduled to deliver a speech at 10:00 AM ET (14:00 GMT) Friday at the Jackson Hole Economic Policy Symposium.

Markets will be looking for clarity on the outlook for monetary policy after the minutes from the July meeting showed opinion among Fed officials was sharply divided.

Bank of England Governor Mark Carney will also present a speech at 3:00 PM ET (19:00 GMT) at the event. Traders will be looking for signs of his plans for monetary policy as the U.K. continues to struggle to reach a deal on its departure from the European Union.

2. Global stocks trade higher ahead of Fed chief speech

Global stocks were on the rise, set to break a three-week losing streak, amid confidence that Powell will confirm expectations for further easing at its next policy meeting in September.

3. Salesforce.com soars 6% on upbeat guidance, Foot Locker on deck

Shares of Salesforce.com (NYSE:CRM) jumped more than 6% in premarket trade after the company’s third-quarter and full-year revenue guidance topped expectations.

4. M&A ramps up with acquisitions by Hasbro and VMware

Hasbro (NASDAQ:HAS) saw shares drop nearly 6% after the company announced it would buy Entertainment One (LON:ETO), the owner of Peppa Pig, for roughly $4 billion dollars. Shares in Entertainment One jumped more than 30%.

Shares in VMware (NYSE:VMW) sank 5% as it announced the acquisition of two providers of cloud security and cloud developer services .

5. Trade and tech in spotlight at G7

The Group of Seven (G7) - comprised of the U.S., Japan, UK, France, Germany, Italy and Canada - is set to kick off this weekend amid little hopes for agreement as leaders battle it out over trade, Iran and climate change.

French President Emmanuel Macron hosts the event and already said there will be no traditional final communiqué as unanimous agreement is unlikely.

Source: Investing

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