Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.

Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.

Phil Orlando, Chief Equity Market Strategist at Federated Hermes, joins Worldwide Exchange to discuss Fed policy, market risks, and why small caps could outperform as rates trend lower.

Markets bet on a September Fed rate cut at Jackson Hole, but sticky inflation, Trump tariffs, and Powell’s framework review could derail expectations.

Palo Alto Networks jumped 6.3% overnight after the cybersecurity company beat Wall Street’s sales and profit forecasts. The California company also announced the retirement of Nir Zuk, its founder, chief technology officer and board member.

Treasury yields moved slightly lower on Tuesday, with the benchmark 10-year rate just below its 100-day moving average amid low volumes and limited conviction behind summertime trading. The 10-year yield was near 4.

"This underscores the importance of immediate action to secure the future of the Colorado River," said Reclamation's acting commissioner David Palumbo.