No surprise at Jackson Hole, more stimulus in China! | MarketTalk: What’s up today? | Swissquote

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The Federal Reserve (Fed) Chair Jerome Powell’s Jackson Hole speech was predictably cautious regarding inflation and interest rate policy. Short-term yields pushed higher, but major US indices closed the session, and the week higher.
This week will be busy with some important economic data from the US and beyond. Investors will focus on US growth and jobs data, and euro-area’s CPI estimate.
In China, the week started upbeat after the government announced measures to boost appetite for Chinese equities. Beijing halved the stamp duty on stock trades, while Hong Kong said it plans a task force to boost liquidity. The CSI 300 rallied more than 2% and HSI jumped more than 1.5%. But gains remain.
Energy traders remain little impressed with China stimulus measures. The barrel of US crude trades around the $80pb level, yet the failure to break below a major Fibonacci support last week – major 38.2% Fibonacci retracement on the latest rally, keeps oil bulls timidly in charge of the market despite the weak China sentiment. Oil trading volumes show an unusual fall since July when compared to volumes traded in the past two years.
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