Why a ‘wall of money’ is unlikely to flood into stocks when the Fed cuts rates, this Goldman strategist says
1. U.S. stocks are near record highs; DJIA closed 0.1% lower. 2. Investors await Fed Chair Powell's speech at Jackson Hole summit. 3. Resilient second-quarter earnings support stock market optimism. 4. High cash levels in money-market funds may limit stock allocations. 5. Rate cut odds for September are at 83.2% as of Monday.