Wall Street has gained ground on Friday as investors react positively to Federal Reserve Chair Jerome Powell's speech at Jackson Hole. The tech focused Nasdaq Composite (COMP:IND) has risen by  1.9%.

Wall Street traders dialed up bets on rate cuts Friday and tamped down their expectations of future volatility. Futures pricing Friday suggested traders saw a roughly 83% chance that the Fed will cut rates at its next meeting,

Both Wall Street and the White House will be paying close attention to Fed Chair Jerome Powell’s high-profile speech Friday at the Fed’s annual economic symposium in Jackson Hole, Wyoming.