Fed chair Jerome Powell will deliver remarks at Jackson Hole on Friday. State Street's chief strategist lays out what investors should listen for.

Gold was little changed on Thursday as investors awaited cues on the Federal Reserve's policy outlook ahead of the annual economic symposium at Jackson Hole, Wyoming, which starts later in the day.

Hong Kong stocks fell on Thursday in the absence of catalysts ahead of the Federal Reserve’s annual Jackson Hole symposium. The Hang Seng Index declined 0.1 per cent to 25,140.96 at the noon trading break after rising as much as 0.

Stocks start the week just shy of record highs, underpinned by a well-received corporate earnings season and hopes the Federal Reserve will soon start reducing official borrowing costs again. Investors are therefore keen that Friday’s keynote address by Fed Chair Jerome Powell at the Jackson Hole symposium will be suitably dovish.

The Nasdaq fell as megacaps lost after having rallied for much of the year. Nvidia fell 3.5%, the biggest drop in nearly four months.

Stocks often rise the week of the Fed’s big Jackson Hole gathering. Don’t count on it this year. Why a ‘wall of money’ is unlikely to flood into stocks when the Fed cuts rates, this Goldman strategist says.

Software maker Palantir (NASDAQ: PLTR) plunged more than 9%, making it the S&P 500's weakest performer. The Dow Jones Industrial Average (DJINDICES: ^DJI) bucked the trend, edging up 10.45 points, or 0.