The stock market indexes (^DJI, ^IXIC, ^GSPC) face some intraday pressures as the Federal Reserve Bank of Kansas City’s Jackson Hole Economic Symposium kicks off in Wyoming. Investors will be awaiting comments from Fed Chair Jerome Powell in a speech on Friday, which could hint at the central bank’s potential monetary policy ahead of its September meeting and beyond.
F/m Investments head of quantitative research and portfolio manager Francisco Bido joins Wealth to discuss his outlook on markets in light of this.
Bido notes that as interest rates begin to go down, equities will “look more attractive,” adding that consumers, the retail sector, and the overall economy will all benefit. He advises investing in “well-established” companies like Amazon (AMZN) and Home Depot (HD) in this environment, calling them “solid long-term investments.”
Bido suggests that if Powell reinforces “that there’s a softening in labor markets and acknowledges that the Fed is data-driven,” it could move markets. However, he emphasizes that regardless of the Fed’s actions, investors should “position themselves independently of what the Fed might or might not do,” focusing instead on earnings and data.
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