US stock futures were mixed before the opening bell on Tuesday, August 25 ahead of Federal Reserve Chair Kevin Warsh's address at Jackson Hole as traders looking for clarity on his economic outlook and estimate rate hike bets.
Nasdaq 100 declined 0.23% to $29,628, Dow Jones Industrial Average was marginally up 0.02% to $53,634, while S&P 500 remained at $7,742.
Stock futures were in mixed on the backdrop of several cues, including rally fatigue post Nvidia's strong earnigs and ahead of Kevin Warsh's address.
Here are three reasons why stock futures are up today -
Fed Chief's Address
Investors are closely watching Kevin Warsh's speech at 10 am New York time, as his comments on inflation and interest rates could significantly influence markets. This speech comes amid concerns that he may not be tough enough on inflation, pushing long-term bond yields higher. Meanwhile, disagreements among Fed officials and the Treasury's actions in the bond market are adding to market uncertainty, according to reports.
Mixed Signals On Earnings
Gap shares surged around 15% even after posting mixed quarter as the retail giant named a new chief executive for its Old Navy brand. Marvell Technology slipped nearly 6% after providing guidance for the current quarter for non-GAAP gross margin that disappointed the Street.
Rally Fatigue
US stocks indicated signs of rally fatigue on Friday as investors booked profit and turned cautious after the recent tech-led gains and ahead of key signals on the Federal Reserve's interest-rate outlook. On Thursday, stocks gained, driven by Nvidia's post-earnings rally of nearly 9%.
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