U.S. Stock Futures Rise Ahead of Powell's Speech

U.S. stock index futures rose ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium, with investors looking for clues on potential interest rate cuts. Recent minutes from the Fed's July meeting indicated a readiness among some policymakers to consider rate cuts as early as September, with a 74% chance of a 25-basis-point reduction anticipated at the September 17-18 meeting. Powell's address is expected to provide insight into the Fed's response to the evolving economy, particularly regarding the pace of easing. The S&P 500 is now about 1.8% shy of a record high following a recovery from a recent downturn triggered by disappointing employment data. In pre-market trading, notable movers included Workday, which saw an 11% rise after beating revenue expectations, and Ross Stores, which gained 5.7% after raising profit forecasts.