With a very light calendar focus will be on the fate of Banco Espirito Santo(BES) in Portugal. A statement from BES issued last night is expected to pave theway for resumption of trading in the BES stock today.
There is a number of Fed speeches in the calendar in connection with a Fedorganisedconference in Jackson Hole. Super-hawk Charles Plosser (voter, hawk)will moderate a debate this afternoon and Charles Evans (non-voter, dove) andDennis Lockhart (non-voter, hawk) will be speaking about monetary policy thisevening. Lockhart and Evans are interesting because they will be voting members ofFOMC next year.
The Q2 earnings season picks up pace with the first major financial company, WellsFargo, reporting Q2 earnings before US markets open today.
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