US open: Stocks higher ahead of Powell's final Jackson Hole speech

(Sharecast News) - Major indices were in the green early on Friday as market participants patiently awaited a speech from Federal Reserve chairman Jerome Powell at the central bank's economic symposium in Jackson Hole. As of 1440 BST, the Dow Jones Industrial Average was up 0.61% at 45,058.05, while the S&P 500 advanced 0.32% to 6,390.75 and the Nasdaq Composite came out of the gate 0.09% firmer at 21,119.20.

The Dow opened 272.55 points higher on Friday, more than reversing losses recorded in the previous session as underwhelming results from economic bellwether Walmart hit sentiment.

Powell will deliver his final Jackson Hole speech at 1500 BST, with market participants hoping to gain crucial clues about the Federal Reserve's next move on interest rates ahead of its September meeting. Markets have already priced in a 75% chance of a 25 basis point rate cut at the meeting, but the Fed chair's tone will likely either reinforce or undermine those expectations.

The current mixed US economic picture of resilient output but weakening employment and uncertain price dynamics puts Powell in the unenviable position of balancing the central bank's dual mandate amid growing calls for policy recalibration.

Given political pressure from Donald Trump to accelerate rate cuts, investors were also bracing for volatility across equities, bonds, and even crypto markets. Powell's speech may also touch on the Federal Reserve's institutional independence, a topic which has come up regularly of late as political scrutiny of the central bank intensifies.

In the corporate space, software firm Workday traded lower after warning of challenges in its government and education units, while Intuit was also in the red on the back of first-quarter revenue growth that was below expectations on the Street.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $23.50 1.27% Amgen Inc. (AMGN) $295.76 0.41% Cisco Systems Inc. (CSCO) $67.02 0.20% Microsoft Corp. (MSFT) $504.24 0.02%

Dow Jones - Fallers

Apple Inc. (AAPL) $224.90 -0.32%

S&P 500 - Risers

Nektar Therapeutics (NKTR) $28.00 3.70% Apache Corp. (APA) $20.63 2.00% J.B. Hunt Transport Services Inc. (JBHT) $143.40 1.64% CH Robinson Worldwide Inc (CHRW) $122.80 1.41% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $520.18 1.35% Cognizant Technology Solutions Corp. (CTSH) $71.08 1.30% Intel Corp. (INTC) $23.50 1.27% Mattel Inc. (MAT) $17.77 1.20% Comcast Corp. (CMCSA) $33.60 1.11% Akamai Technologies Inc. (AKAM) $76.32 0.97%

S&P 500 - Fallers

Seagate Technology Plc (STX) $154.60 -2.32% Hologic Inc. (HOLX) $67.17 -1.64% Intuitive Surgical Inc. (ISRG) $469.88 -1.49% Western Digital Corp. (WDC) $74.66 -1.32% Automatic Data Processing Inc. (ADP) $304.94 -1.10% DENTSPLY Sirona Inc. (XRAY) $13.90 -1.07% O'Reilly Automotive Inc. (ORLY) $102.87 -1.02% T. Rowe Price Group Inc. (TROW) $104.53 -0.97% United Airlines Holdings Inc (UAL) $97.18 -0.91% Lam Research Corp. (LRCX) $98.41 -0.91%

Nasdaq 100 - Risers

Liberty Global plc Series C (LBTYK) $11.54 1.94% Liberty Global plc Series A (LBTYA) $11.45 1.87% J.B. Hunt Transport Services Inc. (JBHT) $143.40 1.64% NetEase Inc. Ads (NTES) $131.87 1.35% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $520.18 1.35% Workday, Inc. (WDAY) $227.58 1.32% Cognizant Technology Solutions Corp. (CTSH) $71.08 1.30% Baidu Inc. (BIDU) $87.61 1.29% Intel Corp. (INTC) $23.50 1.27% Sirius XM Holdings Inc (SIRI) $22.26 1.18%

Nasdaq 100 - Fallers

Seagate Technology Plc (STX) $154.60 -2.32% Hologic Inc. (HOLX) $67.17 -1.64% Intuitive Surgical Inc. (ISRG) $469.88 -1.49% Western Digital Corp. (WDC) $74.66 -1.32% Automatic Data Processing Inc. (ADP) $304.94 -1.10% DENTSPLY Sirona Inc. (XRAY) $13.90 -1.07% O'Reilly Automotive Inc. (ORLY) $102.87 -1.02% Lam Research Corp. (LRCX) $98.41 -0.91% Costco Wholesale Corp. (COST) $969.68 -0.82% Ross Stores Inc. (ROST) $145.62 -0.63%