September S&P 500 E-Mini futures are up +0.26% this morning after a five-session losing streak, ahead of Jerome Powell’s speech. Wall Street’s major indices ended in the red yesterday, with declines in renewable energy and retail stocks. Economic data showed unexpected strength in U.S. manufacturing and existing home sales, while jobless claims rose.

Cleveland Fed President Hammack and other officials expressed caution on rate cuts due to high inflation and labor market concerns. U.S. rate futures indicate a 69.3% chance of a 25 basis point cut in September. All eyes are on Powell’s speech today at the Jackson Hole symposium. A survey shows mixed investor expectations.

Germany’s GDP contracted more than expected in Q2, while France’s Business Survey met expectations. Asian markets closed higher, with China’s Shanghai Composite hitting a 10-year high. Tech optimism and rare earths regulations lifted Chinese stocks. Japan’s Nikkei closed flat, influenced by inflation data and Powell’s speech anticipation.

Pre-market U.S. stock movers include Zoom Communications, Ulta Beauty, Nvidia, Intuit, and Workday. Today’s earnings spotlight features BJ’s Wholesale Club, RLX Technology, and Buckle. The U.S. economic data slate is empty. Euro Stoxx 50 Index is up +0.31%, with focus on Powell’s speech. Germany’s economy contracted more than expected in Q2, while France’s business climate held steady. EU presses for lower U.S. tariffs post-trade deal.

Read more at Yahoo Finance: S&P Futures Tick Higher With All Eyes on Powell’s Jackson Hole Speech