Stock Market Today: Dow futures dip ahead of remarks by Powell as heavy data week gets under way

Investors debating the Federal Reserve’s next rate move get to hear from Chair Jerome Powell himself Monday afternoon, when he delivers remarks at an economics conference. But don’t expect him to settle whether the central bank is likely to deliver another jumbo-size rate cut of 50 basis points or a more standard 25 basis points when policymakers meet in November.

“Powell won’t end the 25 bp versus 50 bp debate this afternoon. Or at least it is very unlikely. Instead, we suspect the primary takeaway will be that the FOMC (Federal Open Market Committee) is solidly in data-dependent mode and the onus is on the employment landscape to define the Fed’s near-term agenda,” said rates strategists Ian Lyngen and Vail Hartman of BMO Capital Markets, in a note.