Markets are looking for indications from the Federal Reserve regarding policy decisions in upcoming meetings. Nasdaq futures are currently down approximately 37 points ahead of the Jackson Hole Symposium, where Fed Chair Jerome Powell will likely address future monetary policy. Richard Saperstein anticipates a 25-basis point rate cut in September, with an overall accommodating stance from the Fed through the year's end. Separately, shares of Palo Alto Networks rose 6% after exceeding earnings estimates, reflecting strong growth and guidance expectations for the upcoming year.
"We expect the Federal Reserve to use Jackson Hole as an opportunity to prepare the markets and signal towards a 25-basis point cut in September and a potentially accommodating stance through year-end," said Richard Saperstein, chief investment officer at Treasury Partners, as quoted by CNBC.
"According to CME's FedWatch, there's an 83% chance of a quarter-point cut in September."
"Shares of Palo Alto Networks are up 6%, or $11.26, after beating Wall Street earnings estimates."
"For the full year, Palo Alto expects to earn between $3.75 and $3.85 per share on an adjusted basis, with the $3.80 midpoint."
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