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Afghanistan withdrawal, August jobs report, Zoom earnings top week ahead
KC Fed president on Jackson Hole, inflation, tapering measures
Kansas City Federal Reserve President Esther George, in a wide-ranging exclusive interview, argued that tapering should happen ‘sooner rather than later’ and predicted ‘high growth’ for the U.S. economy this year.
While the upcoming week will be lighter for earnings, investors will take in key economic data related to housing, jobs and the consumer. Big names delivering earnings results this week include Zoom Video Communications, Chico's FAS, PVH Corporation, Brown-Forman, Campbell Soup, Chewy, Vera Bradley, and Hewlett-Packard Enterprises.
The deadline also looms for the United States' withdrawal from Afghanistan. According to the latest figures from the White House, approximately 113,500 people have been evacuated since Aug. 14 and 119,000 have been relocated since the end of July.
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This as the S&P 500 and Nasdaq are at record highs following comments from Federal Reserve Chairman Jerome Powell indicating the U.S. economy has made enough progress for the central bank to possibly begin tapering its asset purchases later this year, but that rate hikes were further out on the horizon.
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
The earnings week will kick off with Zoom Video Communications after the bell. As for economic data, investors will take in pending home sales.
In the world of politics, President Biden will host Ukraine president Volodymyr Zelensky at the White House.
"The visit will affirm the United States’ unwavering support for Ukraine’s sovereignty and territorial integrity in the face of Russia’s ongoing aggression in the Donbas and Crimea, our close cooperation on energy security, and our backing for President Zelenskyy’s efforts to tackle corruption and implement a reform agenda based on our shared democratic values," the White House said in a statement.