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Stocks Hike Ahead of Powell Speech in Jackson Hole

U.S. stock futures rose Friday as Wall Street looked toward Fed Chair Jerome Powell’s Jackson Hole speech.

Futures for the Dow Jones Industrials hiked 137 points, or 0.4%, to 34,277.

Futures for the S&P 500 gained 15.5 points, or 0.4%, to 4,401.50.

Futures for the NASDAQ grabbed 34.5 points, or 0.2%, to 14,896.50.

Despite Thursday’s declines, both the S&P 500 is ahead 0.2% on the week, and the NASDAQ is holding on to a weekly gain of1.3%. If the two averages manage end the week in the green, they would break a three-week losing streak.

The Jackson Hole Economic Symposium in Wyoming brings together central bankers and key financial officials from across the world. During last year’s gathering, stocks fell following Powell’s hawkish speech. The chair used the forum to warn of “some pain” ahead in the battle against inflation.

This year, the event’s stated topic is a focus on “structural shifts in the global economy.”

Analysts are wondering if artificial intelligence is enough to counteract challenges elsewhere in Marvell Technology’s business after the semi stock’s earnings report.

In Japan, the Nikkei 225 index tumbled 2.1% Friday, while in Hong Kong, the Hang Seng fell 1.4%.

Oil prices jumped $1.05 to $80.10 U.S. a barrel.

Gold prices acquired 60 cents to $1,947.70 U.S. an ounce.

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