06:11 AM EDT, 08/19/2024 (MT Newswires) -- US equity investors will look out for Federal Reserve Chair Jerome Powell's speech this week at Jackson Hole, Wyoming, to continue the rally as the most recent economic data signaled a soft landing.

* Last week, the Dow Jones Industrial Average, the Nasdaq Composite, and the S&P 500 closed higher as concern that significant economic weakness lies ahead dissipated after July's inflation and retail sales validated calls for a soft landing. Nothing in the July Consumer Price Index will prevent the Fed from cutting 25 basis points, "though the firmer-than-expected shelter measures are a reminder that the Fed should continue to approach this easing cycle with caution," Jefferies US Economist Thomas Simons said in a note last week.

* According to the CME Group's FedWatch Tool, the probability of a 50 basis point interest-rate cut at the Federal Reserve's monetary policy meeting on Sept. 18 was 29% as of Monday morning, down from 50% a week ago. The likelihood of a 25 basis-point reduction was 71%, up from 50% a week ago.

* At the annual Jackson Hole Monetary Policy Symposium, set to kick off Thursday, Powell's words will be carefully parsed as the market is expecting a dovish posture following last week's inflation and retail sales that failed to validate concerns triggered by gloomby July nonfarm payrolls released earlier this month.

* The July meeting minutes of Federal Reserve Open Market Committee are due Wednesday.

* Palo Alto Networks (PANW), Lowe's Companies (LOW), TJX Companies (TJX), and Workday (WDAY) are among the companies scheduled to report earnings this week.

* The four-day Democratic National Convention is scheduled to kick off Monday.