One of this week's big events is Federal Reserve Chair Jerome Powell's speech at the central bank's annual symposium in Jackson Hole, Wyo., on Friday, and he may turn out to be less inclined to cut interest rates than many think.

Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.