Stock Market Today: Live Update

All three major stock indexes rose on Friday as traders prepared for remarks from Federal Reserve Chairman Jerome Powell in Jackson Hole.

the Dow It was up more than 170 points, or 0.4%, as of 9:30 a.m. ET. Standard & Poor's 500 and Nasdaq Composite Crude oil prices rose by 0.5% and 0.8%, respectively.

— Alex Haring

Atlanta Federal Reserve President Raphael Bousik said Friday that a rate cut is “on the table” in September but stopped short of making a firm commitment.

Inflation is improving but “still not particularly close to our target,” Boucek noted, telling CNBC's Steve Lesman he was still waiting for more confirmation from the data that it was time for the Fed to start easing monetary policy.

“We still have a long way to go, and I don't think it's in our best interest, or anybody else's best interest, to just assume that we're done and we don't have to worry about it,” he said during an interview with “Squawk Box.”

Boucek said earlier that he does not expect the Fed to cut interest rates until the fourth quarter, and only once this year, which is contrary to market expectations.

—Jeff Cox

Find out which companies made headlines before the bell:

Chewy — The pet retailer’s stock rose more than 2% after Piper Sandler upgraded it to outperform from neutral. Piper Sandler believes gross margin expansion and efficiency gains are bullish catalysts for the stock.

Peloton — Shares of the connected fitness company fell about 2.4%, a day after Peloton shares surged about 35% on strong quarterly results that showed sales growth returning for the first time in nine quarters while cutting costs. Peloton gave a mixed outlook for next year. JPMorgan also downgraded the stock after Thursday’s rally.

Warby Parker – The eyewear retailer jumped 6% after JMP Securities upgraded its shares to outperform. The company expects more constructive comments from Warby Parker management in the coming quarters.

The full list can be found here.

— Hakyung Kim

There is only Friday left in a volatile week that looks set to see more volatility. Here is how the three indices are doing so far:

— Alex Haring

Despite Thursday’s market volatility, Adam Crisafulli stressed that the “big three factors” that led to the rapid recovery in August remain in place. They are:

• “Reassuring growth”
• Strong earnings
• Expectations of Fed easing monetary policy

“However, in the near term bulls need to deal with: 1) expectations (Powell could temper hopes for the pace and size of the next easing cycle while much of the end-July earnings season remains, including the two most important companies: Nvidia and Broadcom) and 2) valuations (the S&P 500’s P/E ratio is very high, leaving little room to absorb macro setbacks).”

— Fred Imbert

European stocks rose at the open on Friday, with investors looking ahead to a speech by U.S. Federal Reserve Chairman Jerome Powell later in the session from Jackson Hole, Wyoming.

The Stoxx 600 index rose 0.11% in early trade, with all major bourses and most sectors trading in the green. Oil and gas stocks rose 0.57%, while food and beverage stocks fell 0.87%.

The British FTSE rose 0.29% to 8,312, the German DAX rose 0.25% to 18,538, the French CAC 40 rose 0.28% to 7,545, and the Italian FTSE MIB rose 0.44% to 33,452.