The markets overall continue to be quiet, as no material news has surfaced to cause a breakout of recent ranges. I expect the week ahead to be calm, with all eyes on Janet Yellen's speech on Friday, August 26, at the Federal Reserve (Fed)'s Jackson Hole Wyoming symposium hosted by the Kansas City Fed. I don't expect any new information, as Fed speakers continue to talk up the economy and the prospect of a continued gradual increase in interest rates.
One market to watch closely is the rally in oil. Crude oil closed the week above $48/barrel. If oil continues to rise, it could be a good sign for global economic growth and help fuel more gains in equities.
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