Powell Must Signal Rate Cut for Market to Move Higher: Young

Our Chief Investment Strategist Alec Young joins Nicole Petallides with Schwab Network stating what the market needs this week is for Fed Chair Jerome Powell to signal a rate cut at Jackson Hole.

Young: Powell Must Signal Rate Cut for Market to Move Higher

“There’s definitely room for some profit taking” right now, but is bullish into 2026. Alec says Powell is right to have concerns about cutting based on the economic data.

If the market did sell off this week, he considers it a buying opportunity.

He likes the Mag 7 – with the exception of Tesla (TSLA) – as well as the financial sector with names like JPMorgan Chase (JPM).