Economic Data Dump Could Set Pace For September

Key Takeaways

• Fed Reiterates Hawkish Stance
• Bitcoin Down 10% For August
• Economic Data Heavy Week

Hawkish comments from Federal Reserve Chairman Jerome Powell caused stocks to give up early morning gains on Friday, but markets managed to close slightly higher. For the week, the S&P 500 was up a little less than 1% while the Nasdaq Composite gained 2%. However, even with those gains, stocks are on track for their first down month since February. A slew of economic data this week could decide if stocks storm into September or limp.