Market Moves: Fed Anticipation and Tech Shifts

U.S. stock index futures edged upward on Friday, offering a modest recovery from previous losses. This movement came as traders prepared for insights on interest rates from Federal Reserve Chair Jerome Powell's address at the Jackson Hole Symposium.

Investors have been closely monitoring the statements from Fed officials, particularly Powell's remarks expected at 10 a.m. ET, as they could significantly influence rate-cut expectations for September.

Meanwhile, news of a $10 billion cloud computing deal between Alphabet and Meta lifted shares, even as technology stocks faced broader pressure, resulting in significant weekly losses for major U.S. indices.

(With inputs from agencies.)