FTSE 100 LIVE: Stocks rise as traders await key Jackson Hole speech from Federal Reserve chair

The FTSE 100 (^FTSE) and European stocks were higher on Friday as markets turn their attention to the much-anticipated speech by US Federal Reserve chair Jerome Powell. He is set to speak at the central bank’s annual symposium in Jackson Hole, Wyoming.

Powell will be addressing an audience of central bankers, academics and journalists to discuss the finer points of monetary policy, who will be looking for any hints about policy outlook ahead of September.

Any comments could help confirm expectations that an interest rate cut is on the cards.

Gabriele Foà, portfolio manager at Algebris Investments, said: "Since tariffs were announced, the Fed has leaned toward the side of caution due to the potential impact on inflation.

"However, July’s labour market data changed the picture, as large revisions to May and June’s data triggered concerns about the economy. As a result, the market is now fully pricing in a rate cut in September.

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"Chair Powell will need to use his Jackson Hole speech to balance inflation risks with signs of softer activity. July inflation data show some impact of tariffs on selected components, but not enough to outweigh recent macro weakness.

"As such, we expect chair Powell to avoid pushing back against market expectations for a September cut, while remaining more cautious about future meetings."

London’s benchmark index (^FTSE) was 0.2% higher in early trade, following its third consecutive record high on Thursday. Germany's DAX (^GDAXI) dipped 0.3% and the CAC (^FCHI) in Paris was trading around the flatline. The pan-European STOXX 600 (^STOXX) was down 0.1%. Wall Street is set for a mixed start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were lacking direction. The pound was relatively flat against the US dollar (GBPUSD=X) at 1.3406.

FTSE Index - Delayed Quote•USD

(^FTSE)

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9,296.52

-12.68

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As of 9:06:56 AM GMT+1. Market Open. Advanced Chart

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LaToya Harding

Asia and US overnight

Stocks in Asia were higher overnight, with the Nikkei (^N225) up 0.05% on the day in Japan, while the Hang Seng (^HSI) advanced 0.9% in Hong Kong. The Shanghai Composite (000001.SS) was 1.5% up by the end of the session.

In South Korea, the Kospi (^KS11) added 0.9% on the day.

Across the pond on Wall Street, the S&P 500 (^GSPC) rose 0.5%, and the tech-heavy Nasdaq (^IXIC) was 0.7% higher. The Dow Jones (^DJI) also gained 0.5%. 30 mins ago

LaToya Harding

Coming up

Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy.

To the day ahead, Fed chair Jerome Powell is set to speak at the Jackson Hole Symposium, with a slew of other central bank comments expected from the event.

Data releases include the UK’s July retail sales, France’s August business confidence, July retail sales, and Canada’s June retail sales.

Here's a snapshot of what's on the agenda:

12.01: GfK consumer confidence 7am: Trading updates: Resolute Mining 7am: UK retail sales 3pm: Jerome Powell to give speech Jackson Hole Symposium in Kansas

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