Jackson Hole, Kroger price cuts, UK retail sales - what's moving markets
Investing.com -- Next week's Jackson Hole central bank symposium has now become the market's key focus as economic data points to the Federal Reserve cutting interest rates in September. U.K. retail sales rebounded in July, while Kroger has promised o lower grocery prices once more as it attempts to clinch merger with smaller supermarket rival Albertsons.Softer U.S.
The main Wall Street indices closed with strong gains Thursday after retail sales came in much stronger than expected, while weekly jobless claims fell - suggesting earlier recession fears were overplayed. This represented a sharp rebound from June’s drop of 0.9% on a monthly basis, an annual fall of 0.3%.this month made a first cut to interest rates from their 16-year high, but what the central bank does next is uncertain.
Retail sales grew more than expected in July, pointing to a resilient U.S. consumer and offering a positive outlook for fuel demand in the country.
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