U.S. equity futures were mixed on Friday as investors positioned for remarks from Federal Reserve Chairman Kevin Warsh at the central bank’s Jackson Hole Symposium. The comments are expected to draw close market attention for any indication of the Fed’s next step on interest rates.
At 4:33 p.m. (Bangkok Time), contracts linked to the S&P 500 were just below the flat line. Nasdaq 100 futures slipped 0.28%, while Dow Jones Industrial Average futures rose 60 points, or 0.11%.
The muted setup followed a strong session on Thursday, when Nvidia’s nearly 9% post-earnings gain helped lift major technology shares. The tech sector, the S&P 500 and the Nasdaq Composite each posted their strongest daily performance since August 4.
Warsh is due to speak at the Fed’s annual gathering in Jackson Hole, Wyoming. Although the event is separate from a scheduled policy decision, traders are monitoring the address for clues on the potential direction of borrowing costs. CME’s FedWatch tool showed fed funds futures implying about a 64% chance that rates remain unchanged at next month’s meeting.
Treasury markets were steady before the symposium, with 10-year and 30-year yields holding near multiyear peaks reached earlier in August. Inflation concerns and worries over the national debt have recently weighed on longer-dated government bonds.
No major corporate earnings are scheduled for Friday. Investors will also review the University of Michigan consumer sentiment survey for insight into household views on the economy.
