Wall Street Anticipates Federal Reserve Rate Cuts Amid Jackson Hole Symposium

Wall Street's main indexes are set for a higher open as investors remain optimistic about a potential Federal Reserve interest rate cut next month. The optimism grew following the release of minutes from the latest Fed meeting. The focus now turns to the Jackson Hole Economic Symposium.

Wall Street's main indexes are set for a higher open on Thursday, as investors express optimism that the Federal Reserve will initiate an interest rate cut cycle next month. Anticipation builds ahead of policymakers' comments at the Jackson Hole symposium this week.

The confidence in a rate cut was bolstered by minutes from the Fed's most recent meeting, which indicated that a 'vast majority' of officials support such a move. As the much-awaited Jackson Hole Economic Symposium begins on Thursday, all eyes are on Federal Reserve Chair Jerome Powell, who will deliver his remarks on the second day of the event.

Money markets currently peg a nearly 70% chance of at least a 25-basis-point cut in September, according to the CME FedWatch Tool and LSEG data. Wall Street indexes closed with minor gains in the previous session, influenced by data showing a significant downward revision in job additions for the year through March.

(With inputs from agencies.)