Wall Street pointed modestly higher before the bell Friday as markets tried to snap a weeklong losing streak ahead of widely anticipated speech by Federal Reserve Chair Jerome Powell.

The FTSE 100 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

Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to magnify any market moves from his Jackson Hole speech on Friday.

The Fed chief is expected to address inflation, interest rates and the economy in his speech on Friday. Will he also confront President Trump’s attacks on central bank independence?

Traders appeared more certain that the Federal Reserve will cut interest rates at its monetary-policy meeting next month as Fed Chair Jerome Powell delivered remarks Friday at the annual Jackson Hole Economic Policy Symposium in Wyoming.

The dollar was higher, lifted by bets Fed Chair Powell will remain cautious on rate cuts in Jackson Hole speech.