What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Subdued world markets eyed proposals for a Ukraine-Russia summit with caution, while updates on the shaky U.

The takeaway is that markets aren’t pricing in any sort of “succession premium” tied to any one chairman. The glidepath of monetary policy — regardless of Powell’s successor — appears structural, anchored to the Fed’s backward-looking framework . If that holds, it would mark a break from recent history.

The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.

Subdued world markets eyed proposals for a Ukraine-Russia summit with caution, while updates on the shaky U.S. housing market on Tuesday and this week's Federal Reserve conference in Jackson Hole dominated thinking.

Get insights on the 2023 Fed Symposium in Jackson Hole. Explore market expectations, Powell's agenda, and potential rate cuts' impact on the economy.

SignalPlus head of Insights Augustine Fan noted that markets have already ruled out any chance of an outsized 50-basis-point cut.

Bitcoin traders eye Jackson Hole for potential bullish signals; Powell's speech could drive BTC price, depending on tone on rate cuts.

In this respect, the geopolitical risk premium is likely to decline, which should have a dampening effect on the Gold price." "The focus of market participants is already shifting to the next important event,