The Dow rises as investors wait for Powell's speech

US stocks opened higher as they awaited a speech by Federal Reserve Chairman Jerome Powell at Jackson Hole.

The Dow Jones industrial average rose 275 points (0.28%), while the S&P 500 rose 0.2%. In pre-market trading, some stocks were upwards. The NASDAQ composite was also acquired at the Open, which increased by 0.15%, as Bulls began to take advantage of the positives from the Federal Reserve CBIEF Jerome Powell speech scheduled until 10am.

This week, stocks are volatile amidst corporate income, weak labor market data and geopolitical unrest, but emotions showed slight improvements when Powell's speech slams in. The Federal Reserve symposium has been gaining attention this year as President Donald Trump has been attracting attention amid a notable push to cut interest rates.

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I'm looking at the Fed chair

Powell is under heavy pressure from Trump, and the latest Fed meeting was marked by two opposition voices as the central bank changed interest rates again. Policy forecasts rose as the Fed could cut prices in September.

The stock then jumped at improved emotions, with the S&P 500 and Nasdaq reaching record highs. Similar to the response to the consumer price index in July, tech stocks have been gathered as the giants beat revenue estimates.

However, after the CPI report, the stocks fell at a higher temperature than the expected producer price index. The Federal Reserve minutes of the July meeting thrust the Federal Reserve symposium into a sharp focus, particularly Powell's speech.

“The implicit market odds of the Federal Reserve's September interest rate cuts are below 80%, slightly above 90% a week ago. It will be interesting to see how this odds react to Chairman Powell's 10am statement.”

UBS raises S&P 500 targets to 6,600

Wall Street's predictions about Powell's remarks are observable across the cryptocurrency market, with Bitcoin (BTC) expected to respond to its 10am speech in a similar way to other risky assets. Analysts predict that BTC will reach a new high of over $150,000 in 2025, with digital assets forecasts reaching $1 million by 2030.

Meanwhile, UBS Global Wealth Management has raised the S&P 500 Index END-2025 target from 6,200 to 6,600, and set its mid-2026 target at 6,800. The bright forecasts are based on expectations for corporate revenue, trade transactions and interest rate cuts.

UBS's forecasts are consistent with forecasts from other major brokerage companies, including Citigroup and HSBC.

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