[Screen shows "Weekly Market Outlook with Jeffrey Kleintop"]
[Jeff holds up illustration of a sign labeled "Jackson Hole"]
From the Fed's annual economic symposium in Jackson Hole, to the loan rate adjustments in China, to the first take on Europe's August economic readings, I'm Jeff Kleintop with 90 seconds on what you need to know for the week ahead.
The big event this week is the Kansas City Fed's annual economic policy symposium which kicks off in Jackson Hole Wyoming on Thursday, features dozens of central bankers and policymakers from around the world. On Friday, all eyes will be glued on Fed Chair Powell and ECB President Lagarde as they address the conference. Both central banks are expected by the market to be on hold in September, potentially ending their most aggressive rate hike cycles in decades. Any signal that this could change or how long it may be until rate cuts take place could move the markets.
Now, even as recent US GDP estimates have ticked up, China's lingering economic downturn
[Jeff holds up illustration of a rabbit and turtle labeled "Different Speeds"]
has been the focus of investors lately—particularly the weakness shown by Chinese consumers, the second largest consumer market in the world for a wide range of products from cars to cosmetics. Chinese banks are likely to lower their loan prime rates by 15 bps on Monday. And this will trim costs for corporate and mortgage loans for a second time in three months after the People's Bank of China eased policy in response to the sharp economic downturn. The economy needs support, with activity slumping and the housing downturn deepening.
Wednesday's preliminary PMI readings from the US, France, Germany, the Eurozone and the UK will give a health check on the global economy in August. In particular,
[Jeff holds up illustration of a factory building with smoke stacks]
market participants will probably focus on the extent to which deterioration is visible beyond the well-known weakness in the manufacturing sector as the lagged impact of rate hikes is increasingly felt. The July figure was below the April to June average, suggesting GDP growth in Europe was decelerating at the start of the third quarter. In fact, the reading for July was consistent with the economy contracting by 0.2%.
[Jeff holds up a note with the words "Thank you"]
Thanks for watching.
[Important disclosures are displayed.]

Watch video: Weekly Market Outlook
Weekly Market Outlook
The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.
Please note that this content was created as of the specific date indicated and reflects the author’s views as of that date. It will be kept solely for historical purposes, and the author’s opinions may change, without notice, in reaction to shifting economic, business, and other conditions.
Past performance is no guarantee of future results.
Investing involves risk including loss of principal.
International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.
Investing in emerging markets may accentuate these risks.
All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.
The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. (2310)
For additional information, please see schwab.com/indexdefinitions.
0923-3NTY