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On Friday, US stock futures rose across the board, with Dow futures up 0.3%. Federal Reserve Chairman Jerome Powell is set to deliver a significant speech at the Jackson Hole conference tonight at 10 PM. Investors are keen to see how Powell will shape policy direction for September and beyond amid rising political intervention and challenges in balancing inflation and employment.
Investors are particularly focused on Powell's speech tonight, which may address labor market conditions, inflation, and the Fed's policy independence. The market is hoping for signals regarding potential interest rate cuts, which could positively impact risk assets and reverse recent declines in tech stocks.
Wall Street remains divided on the outlook for US stocks this year, with some analysts suggesting that the S&P 500 could break 7000 points by year-end, contingent on Fed rate cuts and improvements in manufacturing data.
As the Jackson Hole conference unfolds, all eyes are on Powell's remarks, which could significantly influence market dynamics and investor sentiment in the coming weeks.
