The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.

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.

The U.S. dollar hovered below a one-week high on Thursday and Asian stock markets were broadly mixed as investors braced for three days of potentially market-moving news from the Federal Reserve's annual symposium in Jackson Hole.