Both Wall Street and the White House will be paying close attention to Fed Chair Jerome Powell’s high-profile speech Friday at the Fed’s annual economic symposium in Jackson Hole, Wyoming.

Wall Street's main indexes ended higher on Friday, with the blue-chip Dow hitting a record closing high, as investors piled into stocks after U.S. Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech.

Another contested meeting would mark further deviation from the Fed's traditional consensus-driven decision-making process.

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?

The local market is set to extend its rally after an unexpectedly dovish tone from the Federal Reserve unleashed a wave of buying on Wall Street.

Wall Street fell to a fifth straight loss on Thursday, hurt by a drop for Walmart and dampened hopes for coming cuts to interest rates. The S&P 500 slipped 0.4%. All its losses have been relatively modest,

Federal Reserve Chair Jerome Powell said the balance of risks to the labor market and inflation have shifted, signaling a potential interest rate cut at the Fed's next meeting.