Investors Anticipate Powell's Jackson Hole Speech, Markets React
U.S. stock futures rose as investors awaited Federal Reserve Chairman Jerome Powell's Jackson Hole speech, with Dow Jones futures up 0.2% and S&P 500 futures up 0.2%. The Jackson Hole Economic Symposium is focused on "structural shifts in the global economy." European markets opened cautiously, with tech stocks down 0.4% and oil and gas shares up 0.6%. Chinese food delivery giant Meituan's shares fell over 5% after warning of a slowdown in food delivery volume in Q3. Japan's Nikkei 225 fell nearly 2%, led by losses in tech and retail stocks. Tokyo's core inflation for August was at 2.8%, the lowest in 12 months. The energy sector is on track for the largest weekly losses, down 2.4%, while the technology sector is the biggest outperformer, up 1.7%.