This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will tune into Federal Reserve Chair Jerome Powell's speech for any hints on whether the central bank might kick off interest-rate cuts in September.

The takeaway is that markets aren’t pricing in any sort of “succession premium” tied to any one chairman. The glidepath of monetary policy — regardless of Powell’s successor — appears structural, anchored to the Fed’s backward-looking framework . If that holds, it would mark a break from recent history.

Fed chair Jerome Powell will deliver remarks at Jackson Hole on Friday. State Street's chief strategist lays out what investors should listen for.

The U.S. dollar gained for a third straight session on Wednesday against the euro and sterling as traders awaited the Federal Reserve's annual Jackson Hole symposium this week for clues on the monetary policy path.