At the moment, Nasdaq futures are down about 37 points, as nervous markets wait to hear from Fed boss Jerome Powell at the Jackson Hole Symposium later this week. In fact, markets are waiting for clues as to what could happen at the central bank’s remaining policy meetings for the year.

What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Subdued world markets eyed proposals for a Ukraine-Russia summit with caution, while updates on the shaky U.

The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.

SignalPlus head of Insights Augustine Fan noted that markets have already ruled out any chance of an outsized 50-basis-point cut.

Subdued world markets eyed proposals for a Ukraine-Russia summit with caution, while updates on the shaky U.S. housing market on Tuesday and this week's Federal Reserve conference in Jackson Hole dominated thinking.

According to Bloomberg Economics, "Federal Reserve Chair Jerome Powell has the opportunity to settle the speculation with his speech at the annual Jackson Hole Symposium", but economists Anna Wong, Stuart Paul, Eliza Winger, Estelle Ou and Chris G. Collins think he won't be as frank this year.

Federal Reserve Chair Jerome Powell is slated to speak on Friday at the Fed’s annual gathering of central bankers in Jackson Hole, Wyoming, and Evercore ISI warns that market participants might not love what he has to say.

Incoming information has confounded Fed Chair Jerome Powell's data-dependent strategy by pulling in both directions.