JP Morgan: The U.S. stock sell-off presents a "buying opportunity," and Powell is unlikely to reveal any significant information that could trigger market reactions at Jackson Hole

Due to increasing concerns about the valuation of large technology companies, the U.S. stock market is likely to face a decline for the fourth consecutive trading day. JP Morgan's trading department stated that this creates a "buying opportunity on dips." "Today is a test for dip buyers, as PMI data will be released on Thursday, and Federal Reserve Chairman Powell's speech in Jackson Hole could become a market driver/narrative changer," wrote Andrew Tyler, Head of Global Market Intelligence at JP Morgan. "The U.S. stock market will face its next test on Friday when Powell speaks in Jackson Hole, Wyoming. Traders will closely monitor the possibility of the Federal Reserve cutting interest rates as early as next month." Tyler believes that Powell is unlikely to reveal any significant information that could trigger a market reaction