U.S. stocks are expected to record their worst weekly performance this week, as the market waits for Powell's speech.

According to ChainCatcher news and Jin10 reports, US stocks are expected to open higher on Friday, following several days of declines in the market. Investors are waiting for Powell’s speech at the Jackson Hole seminar to gain clues about the interest rate path. Michael Matousek, chief trader at US Global Investors, stated that Powell will take a “cautious approach,” emphasizing the need to observe data. Several Fed officials are not very positive about the idea of a rate cut next month, and all three major stock indexes are expected to close lower this week, with the S&P 500 and Nasdaq likely to record their worst weekly performance this month.