Investors Eye Powell's Jackson Hole Speech Amid Economic Uncertainty

U.S. stock index futures remained stable after Wall Street's best week of the year. Investors are anticipating Federal Reserve Chair Jerome Powell's Jackson Hole speech for indications of a rate cut. Economic data eased recession fears, and Goldman Sachs reduced recession odds. Key Fed officials discussed potential interest rate cuts.

U.S. stock index futures were little changed on Monday after Wall Street notched up its best week of the year. Investors are now looking ahead to Federal Reserve Chair Jerome Powell's speech at Jackson Hole, hoping for indications of a rate cut.

Last week, all three major indexes saw significant gains in response to economic data, including a consumer price index reading and a retail sales report, which helped alleviate investor concerns about a potential recession. This surge followed a tumultuous start to the month triggered by an unexpected rise in the U.S. unemployment rate for July.

Goldman Sachs lowered the odds of the United States entering a recession in the next 12 months from 25% to 20%, citing favorable weekly jobless claims and retail sales reports. With the Fed's last policy meeting minutes set for release on Wednesday and Powell set to speak on Friday, investors are keenly awaiting any indications of a September rate cut.