{"id":564359,"date":"2021-08-26T13:53:43","date_gmt":"2021-08-26T13:53:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/26\/tonight-egx30-keeps-its-green-streak-middle-east-on-chill-pills-also-jackson-hole-kicks-off-tomorrow\/"},"modified":"2021-08-26T13:53:43","modified_gmt":"2021-08-26T13:53:43","slug":"tonight-egx30-keeps-its-green-streak-middle-east-on-chill-pills-also-jackson-hole-kicks-off-tomorrow","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/26\/tonight-egx30-keeps-its-green-streak-middle-east-on-chill-pills-also-jackson-hole-kicks-off-tomorrow\/","title":{"rendered":"TONIGHT: EGX30 keeps its green streak. + Middle East on chill pills. ALSO: Jackson Hole kicks off tomorrow."},"content":{"rendered":"

Good afternoon, wonderful people. <\/strong>We\u2019ve made it through another week together (the last full week in August, at that). Our reward is a pleasantly brisk newsday \u2014 overlaid with a thin layer of worry about global equities as we head into September next week.<\/p>\n

<\/a> HAPPENING NOW- Global markets are down and US futures are wobbling ahead of <\/strong>today\u2019s opening across the pond <\/strong>as investors wait for US jobless claims<\/a> \u2014 and look forward to this year\u2019s virtual edition of the US Federal Reserve\u2019s Jackson Hole meeting. Shares in Asia finished down for the day and major European indexes are on track to do the same. Futures show the Dow opening in the green, while both Nasdaq and the S&P were in the red at the opening bell later this afternoon.<\/p>\n

RAY OF SUNSHINE- The EGX30 is comfortably bucking the trend<\/strong>, closing the week up 0.6% (+2.6% year to date).<\/p>\n

The annual gathering of US central bankers and policy makers at Jackson Hole <\/strong>takes<\/a><\/strong>place tomorrow<\/a><\/strong>.<\/strong> Feb boss Jay Powell will speak tomorrow evening our time<\/a>, with analysts expecting him to remain vague on the timing of a potential tapering of the Fed\u2019s bond buying program. This is the second year in a row that the gathering will take place online<\/a>. The Fed has a <\/strong>delicate balancing act<\/a><\/strong> to pull off <\/strong>as it looks to start dialing back stimulus, and the Financial Times\u2019 editorial board hopes it uses the Jackson Hole meeting to provide some clarity.<\/p>\n

What are policymakers weighing? <\/strong>Among other things, the likelihood that the delta variant will have a significant impact on the economy, which would add another layer of complexity to the Fed\u2019s fundamental debate: Is the bump in inflation transitory or not?<\/p>\n

ALSO HAPPENING NOW- We\u2019re on tenterhooks waiting to see if we get off the UK\u2019s <\/strong>black <\/s>red list <\/strong>of countries from which passengers landing on British soil are required to quarantine. We have the rundown in this afternoon\u2019s Speed Round, below.<\/p>\n

MEANWHILE- We\u2019re declaring ourselves American today.<\/strong> Not for the truth, justice and apple pie (they\u2019re nice, of course), but because it\u2019s National Dog Day in Amreeka. The Wall Street Journal is sure we find pups cute because of the shape of their eyebrows<\/a>. Resident dawg Luna thinks that\u2019s an oversimplification.<\/p>\n

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THE BIG STORY ABROAD- The United Kingdom has rung warning bells about a \u201chighly <\/strong>credible\u201d threat of the Daeshbags sending suicide bombers to target crowds outside Kabul\u2019s airport. <\/strong>The alarm prompted the US<\/a> and other countries to urge citizens to stay away from the airport for their own safety \u2014 and in some cases halt evacuation flights altogether. Nations have been sprinting to evacuate their citizens before US President Joe Biden\u2019s 31 August deadline to withdraw troops. The warning has done nothing to thin crowds outside the facility. <\/strong>The story is everywhere from Bloomberg<\/a> and Reuters<\/a> to CNBC<\/a> and the New York Times<\/a>.<\/p>\n

** CATCH UP QUICK <\/strong>on the top stories from today\u2019s EnterpriseAM:<\/p>\n