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US stock index futures were up on Friday morning, as market participants waited for a keynote speech from the top official of the Federal Reserve.
At approximately 3:00 pm (ET), Dow futures were up 108 points, indicating a positive opening of more than 92 points. Futures on the S & P and Nasdaq were slightly higher.
The annual US Central Bank's Jackson Hole Symposium is largely market-oriented. Fed Chairman Jerome Powell is expected to address an audience of policymakers and economists around 10:00 am Eastern Time.
Powell faces the difficult challenge of presenting a unified voice on Fed policy from the most divided US central bank in years.
This is because the Fed and Powell are both under unprecedented siege from an angry president, while a speech that would not guarantee investors that the US central bank will continue to reduce interest rates could create even more market volatility.
On Friday morning, federal fund futures were expecting a 90% probability of a 25 basis point rate cut at the September meeting, and between one or two more rate cuts. a quarter between this date and the end of the year.
As for data, new home sales for July will be released around 10:00 am ET.
At company news, Foot Locker, Buckle and Red Robin Gourmet Burgers are expected to release their latest quarterly results before the opening bell.
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