Investors look ahead to Fed’s Jackson Hole meeti

Investors look ahead to Fed’s Jackson Hole meeting
SAN FRANCISCO (MarketWatch) — Investors likely will gloss over a light smattering of economic data and corporate earnings in the coming week in anticipation of news coming out of the Fed’s annual retreat in Jackson Hole, Wyo., according to analysts.

“Investors will be holding their breath over the week leading up to Jackson Hole,” said Phil Orlando, chief equity market strategist at Federated Investors.

As major indexes turned in their first losing week in several weeks Friday, it appears as if everything is taking a back seat to the weekend Fed retreat that begins Friday in the Wyoming resort.

The Dow Jones Industrial Index (DJI JIA) , the S&P 500 Index (SNC:SPX) , and the Nasdaq Composite Index (NASDAQ:COMP) all finished higher Friday after Federal Reserve Chairman Ben Bernanke reiterated his claim that the central bank has the means to “ease financial conditions and strengthen the recovery.

But those gains weren't enough to sustain a recent string of weekly advances: six weeks in a row for the Dow industrials and the S&P 500, five in a row for the Nasdaq. For the week, the Dow index finished down 0.7%, the S&P 500 fell 0.5%, and the Nasdaq declined 0.2%.

Bernanke is scheduled to speak on Friday, but at no specified time, so his speech could come after U.S. markets have closed for the week. http://www.marketwatch.com/story/investors-lo...2012-08-25