Wall Street's main indexes fell on Thursday as investors awaited monetary policy clues from the Federal Reserve's annual economic symposium, while big-box retailer Walmart's quarterly results dampened sentiment.

Federal Reserve Chair Jerome Powell is preparing to address the annual Jackson Hole, Wyoming, economic forum as the Trump administration pushes for an interest rate cut in September. Bill Watts, a markets editor for MarketWatch,

This year’s summit carries additional weight: it will be Powell’s last appearance at Jackson Hole as Fed chair before his term ends in May 2026. It also comes at a time of mounting pressure from both Wall Street and the White House, as President Donald Trump continues to push the central bank to align with his tariff-driven economic agenda.

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But every August, the Jackson Hole Economic Symposium make headlines, move markets and fuels policy debates. Hosted since 1978 by the Federal Reserve Bank of Kansas City, the annual meeting convenes roughly 120 participants to discuss new research and pressing economic issues.

Gold prices were steady on Thursday as investors awaited U.S. Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium on Friday for signals on the central bank's policy direction. Spot gold fell 0.