BofA’s Hartnett Says US Stocks to Falter After Jackson Hole

Bank of America strategist Michael Hartnett believes that US stocks are likely to falter after the Jackson Hole economic symposium if the Federal Reserve gives dovish signals. Hartnett's assessment comes after a record-breaking rally in the US stock market this week. The Jackson Hole symposium, a closely watched annual event, is scheduled to take place later this week. Investors are keenly anticipating any hints from the Fed regarding its future monetary policy decisions, particularly regarding interest rates and the pace of the central bank's asset purchase program. Hartnett's warning suggests that if the Fed's messaging at Jackson Hole is perceived as more dovish than expected, it could trigger a pullback in the US stock market, which has been on a strong upward trajectory lately. Investors will be closely monitoring the Fed's communication during the event to gauge the potential impact on the overall market performance.