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World markets are mostly lower ahead of U.S. at 8:30 and Ben Bernanke’s Jackson Hole Speech at 10. U.S. futures point to a slightly positive open.The dollar weakened against most currencies and gold on expectations of more quantitative easing.
Soon we’ll get the best look in weeks at the state of the U.S. economy and what the Fed plans to do about it. Consensus expects a decline in second quarter GDP to 1.1% from 1.3%. Read about expectations for Bernanke here.
Another speaker at Jackson Hole will be ECB chief Jean Claude Trichet, who faces an even worse economic mess in Europe.
A U.S. consumer sentiment survey also comes out this morning at 9:55.