New iPhones, more Fedspeak: What to know ahead of a shortened week

The stock market is poised for more turbulence this week when investors return to Wall Street on Tuesday for a holiday-shortened trading week.

U.S. markets will be closed on Monday in observance of Labor Day.

All three major averages slid late in Friday’s session to cap a third-straight week of losses after data from the Labor Department showed nonfarm payrolls grew by 315,000 last month while the unemployment rate rose to 3.7%.

In the coming week, Federal Reserve Chair Jerome Powell will deliver remarks Thursday at the Cato Institute’s 40th Annual Monetary Conference, one day after the Federal Reserve releases its latest Beige Book report.

The global economic calendar will be busy, with the European Central Bank, Reserve Bank of Australia, and Bank of Canada all set to meet as officials around the world scramble to tackle surging inflation.

Europe’s central bank is expected to raise rates by 0.75% after price increases in the eurozone hit a new record high.

Meanwhile in Silicon…

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This article was written by and originally published on finance.yahoo.com