U.S. markets are caught in limbo this morning. Stock futures for the Dow, S&P 500, and Nasdaq are slipping as traders juggle hopes for Federal Reserve rate cuts with worries over retail earnings and global politics.

U.S. stock futures rose on Friday following Thursday's declines. Futures of major benchmark indices were higher.

The S&P 500 was 1.7% higher after Fed Chair Jerome Powell said in a speech at Jackson Hole that “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”