When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

Liquidity constraints pose a significant challenge for BTC bulls looking to engineer a steep uptrend well into the year-end.

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.

U.S. stock-market futures rose slightly Sunday, after Friday’s summit between U.S. and Russian leaders ended without a major breakthrough and as investors await this week’s Fed gathering in Jackson Hole,