Global Stocks Down; Jackson Hole Central Bankers Meeting In Focus

Jon Economy

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
(Kitco News) – World stock markets were mostly weaker overnight. U. S. stock indexes are pointing toward narrowly mixed openings when the New York day session begins.
Gold prices are up slightly after pushing to a multi-month high on Friday. Gold bulls remain in firm near-term technical control amid a steep price uptrend in place on the daily bar chart.
The highlight of the trading week will be the annual central bankers meeting held in Jackson Hole, Wyoming, Thursday through Saturday. Highlights of central bank speakers from around the world include Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi. The marketplace will closely examine the Jackson Hole speeches for clues on future monetary policy moves by the world’s major central banks. In recent years the Jackson Hole central bankers confab has significantly moved the markets.
The U. S.-North Korea stand-off regarding North Korea’s nuclear missile program is still near the front burner of the marketplace. The U. S. and South Korea will hold joint military exercises this week, which could prompt an angry reaction from North Korea. This matter has prompted safe-haven moves into gold and U. S. Treasuries, and will likely continue to do so for the near term.

This post was published at Wall Street Examiner by Jim Wyckoff ‘ August 21, 2017.