Jackson Hole Economic Symposium, GDP Report Among Biggest Macro Catalysts Today

U.S. stocks closed slightly higher on Wednesday. NVIDIA Corporation NVDA reported downbeat results for its second quarter after the closing bell.

Let’s have a look at the major economic events scheduled for today.

• The three-day Jackson Hole economic symposium starts today, with Federal Reserve chief Jerome Powell scheduled to speak on Friday.
• Gross Domestic Product report for the second quarter is scheduled for release at 8:30 a.m. ET. The second estimate of Q2 GDP is projected to be unchanged from the first estimate at 0.9% annualized contraction.
• Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims coming in at 255,000 for the August 20 week compared to 250,000 in the previous week.
• Data on corporate profits for the second quarter will be released at 8:30 a.m. ET. Pending home sales are projected to decline 2.5% in July.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
• The Kansas City Fed manufacturing index for August is scheduled for release at 11:00 a.m. ET.
• The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
• The Treasury will auction 7-year notes at 1:00 p.m. ET.

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