This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will be glued to Federal Reserve Chair Jerome Powell's speech, hoping for any insight into whether the central bank might kick off interest-rate cuts in September.

Investors expecting to hear Federal Reserve Chair Jerome Powell give guidance Friday about the central bank's September meeting may be in for a letdown. This is because Powell will want to keep his options open in his speech in Jackson Hole,