Institutional warning: U.S. stocks face profit-taking risks after the Jackson Hole annual meeting.

The strategist at Bank of America said that once the Federal Reserve sends out a dovish signal at the Jackson Hole Economic Symposium, the record-breaking rise in the U.S. stock market makes it highly likely for profit-taking to occur. Michael Hartnett's team pointed out that investors have been flocking to stocks, cryptocurrencies, corporate bonds, and other risky assets recently, optimistically believing that the Fed will cut interest rates to support the weak labor market and ease the U.S. debt burden. If Fed Chair Powell adopts a dovish tone at the Jackson Hole Symposium on August 21-23, the stock market could decline.