U.S. Stock ETFs Remain Listless Ahead of Jackson Hole Summit

“The Fed does a very delicate dance with the markets,” Chris Cordaro, chief investment officer at RegentAtlantic, told the WSJ, expecting the Fed to be “gentle and subtle” with raising interest rates and trimming its balance sheet.

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Investors will also be closely following European Central Bank President Mario Draghi’s comments at Jackson Hole to hear if he is concerned about the euro’s recent strength – the EUR has appreciated 12% against the USD so far this year.

“We think they won’t be in as much of a hurry to tighten as the rest of the market thinks,” Trevor Greetham, head of multi asset at Royal London Asset Management, told the WSJ. “We’re starting to hear companies complain about euro strength and see earnings downgraded…so the ECB won’t want to come out of Jackson Hole stoking expectations of tightening.”

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