12:48
U.S. stocks are expected to record their worst weekly performance this week, as the market waits for Powell's speech.
According to ChainCatcher news and Jin10 reports, US stocks are expected to open higher on Friday after the market has fallen for several consecutive days. Investors are waiting for Powell's speech at the Jackson Hole symposium for clues on the interest rate path. Michael Matousek, chief trader at US Global Investors, stated that Powell will take a "cautious approach" and emphasize the need to observe data. Several Fed officials are not very positive about the idea of a rate cut next month, and all three major stock indexes are expected to close lower this week, with the S&P 500 and Nasdaq likely recording their worst weekly performances this month.