Fed Chair Kevin Warsh speaks at Jackson Hole at 10:00 AM ET
Markets will focus on whether the Fed is leaning toward another rate increase, after inflation stayed above target. The 10-year Treasury yield is around 4.68% and futures trade cautiously ahead of the 10:00 AM ET remarks.
For Friday, August 28, the main event is Fed Chair Kevin Warsh at Jackson Hole at 10:00 AM ET.
Markets will be listening closely for guidance on whether the Fed is leaning toward another rate increase after inflation remained above target; the 10-year Treasury yield is around 4.68% this morning.
Futures are cautious ahead of the speech, with Dow futures +0.2%, S&P 500 futures roughly flat and Nasdaq-100 futures -0.3% around 4:15 AM ET.
Marvell Technology is down roughly 7—8% premarket despite raising longer-term revenue forecasts, as investors questioned how quickly its Google custom-chip deal will contribute.
Affirm is up about 12% after strong earnings, while PayPal is down roughly 13% after reports that the Advent/Stripe consortium abandoned its takeover pursuit.
The setup is therefore AI momentum versus Fed/rate risk, with Warsh's 10:00 AM remarks likely the biggest market-moving catalyst of the session.