US stocks showed positive movement as investors await the annual Jackson Hole symposium that will take place this weekend for clues on interest rates.
Futures rose after Wall Street recorded a high last week driven by confidence that the Federal Reserve (Fed) will cut interest rates in September.
This week's focus is on Fed Chairman Jerome Powell's speech at the Jackson Hole symposium that will discuss the global financial outlook and the central bank's policy framework.
Powell's speech came amid confidence that the Fed will cut interest rates by 25 basis points in September following weak payrolls data and moderate July consumer inflation.
However, strong producer inflation data last week has reduced expectations for a rate cut in September, putting pressure on Wall Street.
According to CME's FedWatch, investors now rate a 25 basis point cut in September at an 83% chance.
The S&P 500 index rose 0.1% to 6,479.0 points, the Dow Jones rose 0.1% to 45,085.0 points, while the technology-focused Nasdaq rose 0.2% to 23,845.0 points.
Meanwhile, several major retailers are also expected to report second-quarter earnings this week, completing a mostly positive reporting season.
Among the major retailers to watch are Walmart Inc, Target Corporation, Home Depot Inc, Lowe’s Companies Inc and TJX Companies Inc.
The earnings report will provide a clearer picture of U.S. consumers amid concerns that tariffs imposed by President Donald Trump will curb private spending.
