Palo Alto Networks jumped 6.3% overnight after the cybersecurity company beat Wall Street’s sales and profit forecasts. The California company also announced the retirement of Nir Zuk, its founder, chief technology officer and board member.

Financial markets are taking in a collective breath ahead of Jerome Powell's eighth and final keynote Jackson Hole speech as Federal Reserve Chair. If the moves following his last seven are any guide,

The markets expect a rate cut in September and all eyes will be on Fed Chair Jay Powell Friday at Jackson Hole. Click here to read what investors need to know.

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.

By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.

This week's set-piece event is the Jackson Hole central-bank gathering in Wyoming, slated for Thursday through Saturday. Investors will tune into Federal Reserve Chair Jerome Powell's speech for any hints on whether the central bank might kick off interest-rate cuts in September.

A number of stocks fell in the afternoon session after the major indices continued to pull back, with technology stocks accounting for most of the market's largest decliners.

Phil Orlando, Chief Equity Market Strategist at Federated Hermes, joins Worldwide Exchange to discuss Fed policy, market risks, and why small caps could outperform as rates trend lower.

"This underscores the importance of immediate action to secure the future of the Colorado River," said Reclamation's acting commissioner David Palumbo.