Markets eye Powell at Jackson Hole as retail earnings and Novo Nordisk rally

Stock futures hover near record highs ahead of Fed Chair Powell’s final Jackson Hole speech, with investors betting on a September rate cut. Retail earnings from Walmart (WMT), Target (TGT), and Lowe’s (LOW) are in focus, while Novo Nordisk (NVO) surges on expanded drug approval. Soho House (MCG) also announces a $2.7B go-private deal.

Takeaways:

• Powell’s last Jackson Hole speech could set the stage for a September rate cut

• Markets remain resilient with tech and Q2 earnings fueling record highs

• Walmart, Target, and Lowe’s headline a big week for retail earnings

• Novo Nordisk gains FDA approval for Wegovy in liver disease, boosting stock

• Soho House to go private in $2.7B deal with Ashton Kutcher joining the board

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