JPMorgan Chase: US stock market sell-off brings "buying opportunity", Powell is unlikely to reveal any important information that could trigger market reactions at Jackson Hole.

Due to growing concerns about the valuation of large tech companies, it is feared that the US stock market may struggle to avoid a fourth consecutive day of decline. The trading department of JPMorgan Chase said this has created a "buying opportunity on dips." "Today will be a test for dip buyers, with PMI data scheduled for release on Thursday and Federal Reserve Chairman Powell's speech at the Jackson Hole likely to be a market mover/narrative changer," wrote Andrew Taylor, head of global market intelligence at JPMorgan Chase. "The US stock market will face another test on Friday, when Powell speaks at the Jackson Hole in Wyoming. Traders will be closely watching for the possibility of a rate cut by the Fed as early as next month." Taylor believes Powell is unlikely to disclose any significant information that could trigger a market reaction.