How are stock-index futures trading:
S&P 500 futures rose 0.37%
Dow Jones Industrial Average futures gained 0.24%
Nasdaq 100 futures increased 0.63%
On Thursday, the Dow Jones Industrial Average fell 177.7 basis points, or 0.43, to 40,713, as the S&P 500 fell 50.2 points, or 0.89%, to 5,571 and the Nasdaq Composite fell 299.6 points, or 1.67%, to 17,619.
Investors trimmed their positions on Thursday as they readied themselves for what Federal Reserve Chair Jerome Powell will say in his speech at the Jackson Hole Economic Symposium in Wyoming scheduled for 10 am ET on Friday.
Futures indicate U.S. stocks are now set to rebound.
“What has been a calm week could see a last minute volatility with Powell’s Jackson Hole speech,” Swissquote Bank senior analyst Ipek Ozkardeskaya said in a note.
“Powell will probably not show up with a game-changing speech today, but his words should temper overpriced cut expectations. If that’s the case, we shall see the U.S. dollar rebound from oversold levels, yet appetite in stocks could remain intact with prospects of lower rates into the year end,” Ozkardeskaya said.
