A summer rally was halted last week as fears of aggressive interest rate hikes from the Federal Reserve resurfaced on Wall Street.
Investors are wrapping up earnings season with just a couple dozen companies in the S&P 500 yet to go. Of the 95% of companies in the broader market index that have reported earnings, roughly 75% have beat expectations, according to FactSet.Fed Chairman Jerome Powell is expected to speak at the central bank's annual symposium in Jackson Hole, Wyoming this week, and shed some light on the pace of future interest rate hikes.
Powell may advance hawkish comments from Fed officials who recently underscored their commitment to fighting inflation, even as investors enjoyed a summer rally partly on expectations of a less aggressive Fed.that he is considering another 0.75 percentage point interest rate hike at the September meeting.
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