The upcoming week will feature the Federal Reserve's Jackson Hole symposium and the release of flash PMI purchasing managers' index readings from major economies. The U.S. PMI is particularly interesting due to continued positive economic growth surprises. While markets have started acknowledging risks highlighted by economists recently, David Roche, President of Independent Strategy, warned on CNBC that there might be more room for a downturn once the full range of geopolitical and macroeconomic risks are factored in. Roche believes that when a market correction occurs, the realization that profits are adjusting to lower inflation and the consideration of various global challenges could lead to a significant market downside that is not currently priced in. These challenges include issues in Latin America, Africa's Niger and the Sahel belt, and China.