Wall Street on Edge: Powell's Speech and Market Moves

Wall Street is poised for gains following a series of losses as investors look to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium for interest-rate guidance. While technology stocks continue to struggle, Powell's cautious approach and new corporate deals influence market dynamics.

U.S. stock markets are set to open higher, driven by anticipation around Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Symposium. Investors are keen on insights regarding future rate cuts amid economic uncertainties.

Wall Street's dominant indices, including the Dow, S&P 500, and Nasdaq, have faced recent losses. A notable rise is anticipated due to the announcement of a $10 billion cloud deal between Alphabet and Meta, but technology stocks remain pressured.

Market expectations of a 25-basis-point rate cut next month have decreased to 69.5%, influenced by Powell's likely cautious stance amid tariff impacts. Despite mixed earnings reports and deal influences, the stock market remains volatile with marked sectoral differences.

(With inputs from agencies.)