Stock Market Today: The Macro Trader's Super Bowl

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Happy Friday. This is TheStreet’s Stock Market Today for Aug. 22, 2025. The stock market is set to open in short order. You can follow along all day with today’s biggest updates here on our daily live blog. 

Update: 7:54 a.m. ET

Taking Score: Pre-Market

This morning, stocks are up in futures trading. The Russell 2000 (+0.43%), Dow (+0.27%), S&P 500 (+0.16%), and Nasdaq (+0.10%) are all up ahead of Powell’s final Jackson Hole speech. Meanwhile, gold (-0.31%) are down, while the U.S. 10Y Treasury is unchanged at 4.33%. We’ll keep an eye on all of these throughout the day, seeing how investors react to today’s revelations.

Update: 7:35 a.m. ET

JPow’s Big Day Finally Arrives

Earnings aside, let’s touch on the real rodeo taking place today. Today is the macro trader’s Super Bowl. 

In the Cowboy State, Fed chair Jerome Powell will give remarks at the Fed Symposium in Jackson Hole, Wyoming at 10:00 a.m. ET. It’s been foreshadowed all week, and really, for quite awhile.

Powell’s commentary might offer investors some clues of what the central bank’s policy will look like in his outgoing as chair. But really, it’s most likely to reiterate things we already know; ‘wait and see’, balancing the risks to the labor market and inflation, yada yada. No surprises here!

As other Fed leaders have shared up to this point, there is a widespread desire to observe the data rolling in between now and the September FOMC, then see where things land. For that reason, those seeking salvation might be disappointed in Wyoming. And if that’s not reason for caution enough, past Symposiums speeches have met with dramatic pullbacks.

Only once in the last five years has the market actually reacted positively in the five days after (2021). The other times, the pullbacks varied in size, ranging from -1.36% (2023) to -7.85% (2022). With so much riding on today’s two cents, investors should prepare themselves for any eventuality today, including the most mundane.

Update: 7:24 a.m. ET

Earnings Today: Gold Fields, BJ’s Wholesale, JinkoSolar

The start and end of the week are traditionally pretty quiet for earnings. Today is no different. Nasdaq says there’s just 14 firms reporting today, including Gold Fields  (GFI) , Ubiquiti Networks  (UI) , and BJ’s Wholesale Club  (BJ) .

Earnings are going to be taking a backseat to the real show today: the Fed Symposium in Jackson Hole. Among firms with a market cap exceeding $1 billion, here is what to keep an eye on:

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