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Weekend Reading Focus on Federal Reserve Kansas City Symposium At Jackson Hole

  • Wall Street Rebel | Geoff Garbacz
  • 08/19/2018 9:48 PM
Weekend Reading Focus on Federal Reserve Kansas City Symposium At Jackson Hole

The weekend news was filled with lots of stories but the lead story across the board was the upcoming Jackson Hole Symposium sponsored by the Federal Reserve Kansas City District. Not only will key Federal Reserve players be there but so too will many international central bank figures.

Federal Reserve Chairman Jay Powell will speak either on Thursday or Friday but we have yet to find the time. Clearly, his comments on the rate of rate increases will drive the markets.

In other news, Barron's had a couple stories of interest. The lead story is about blockchain which is growing in use and becoming a driving force. This is why two weeks ago in Superstock Investor all our lead stories were about cryptocurrencies and blockchains.

Other story we found of interest was that State Street (STT) is ready to turn a corner. However, the stock is near its 52 week low. Mutual funds may sell this name for tax losses in the next two months. Then we would look to potentially be a buyer.

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Another dog featured by Barron's was BrightView Holdings (BV) which is in the commercial landscape and snow removal business. The stock is a recent IPO that has fallen out of bed and is now under $20 at $17.45. If it can reverse the recent weakness, then we might be interested in the name.

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