Stock futures rise slightly ahead of Powell’s Jackson Hole speech: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 21, 2025.
Brendan McDermid | Reuters
U.S. stock futures rose slightly Friday ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole on Friday. Investors will be seeking clues on the path forward for monetary policy.
Dow Jones Industrial Average futures climbed 131 points, or 0.3%. S&P 500 futures added 0.2%, while Nasdaq 100 futures gained 0.1%.
Investors are looking forward to Powell’s speech hoping to gain clarity on the interest rate outlook. Markets were last pricing in a 75% chance of a quarter-point cut at the September meeting, according to the CME FedWatch tool.
Recently, the prospect of lower interest rates helped bolster parts of the market that have missed out on this year’s rally, with investors dumping megacap tech for small caps and value plays. However, a more hawkish outlook from Powell could throw cold water on the market.
“I think the Fed and what Powell is going to try to articulate and communicate is an explanation and a justification for the Fed to start a process of cutting interest rates starting in September,” Morgan Stanley Investment Management’s Jim Caron said Thursday on CNBC’s “Closing Bell.” “And I think that should be supportive for markets.”
That could determine the direction of the near-term outlook for a stock market that’s come under pressure. As of Thursday’s close, all three major averages were headed for a losing week. The S&P 500 is off 1.2% week to date, while the Nasdaq is down 2.4%. The 30-stock Dow is on pace for a roughly 0.4% slide.
On the other hand, the S&P 500 Equal Weight Index is virtually unchanged for the week.
