Stocks were lower on Thursday, giving up earlier gains as investors wondered whether the Federal Reserve will cut interest rates next month.
The S&P 500 fell 0.3%. The Nasdaq Composite traded 0.7% lower. The Dow Jones Industrial Average chopped around the flatline after rallying as much as 186 points.
Powell is set to deliver his speech as President Donald Trump continues attacking the U.S. central bank, pressuring it to lower rates. On Thursday, Trump tweeted: “The Economy is doing really well. The Federal Reserve can easily make it Record Setting.”