US stocks tend to gain around Fed's Jackson Hole summer conference, analysis shows

U.S. stocks typically perform well around the Federal Reserve's Jackson Hole conference, with the S&P 500 averaging a 0.9% gain in the five days before and after the Fed chair's speech since 2010. This year, the index has declined ahead of the event, contrary to the usual trend. Investors are keen to hear if Chair Powell will signal a potential interest rate cut at the upcoming meeting, with an 84% chance priced in by Fed Fund futures. Notably, the S&P 500 fell in 2022 amid warnings of slower growth and high inflation.