Zach Hill, Horizon Investments head of portfolio strategy, and Eddie Ghabour, KeyAdvisors Group owner and author of “Common Sense Bull,” join Yahoo Finance Live to discuss how the market is bracing itself as it awaits for Fed Chair Jerome Powell’s speech about the Federal Reserve’s next moves to bring down inflation.

Video Transcript

- Thanks. I forgot what day it was. Thanks.

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- All right that does it for today's market action here. All three of the major averages, like Ganesh just said, holding onto gains. Closing just around the highs of the session. Dow up just over 300 points. S&P in the green as well as the NASDAQ. The NASDAQ up just around 1.7%. You just heard a Inez mention the fact that the NASDAQ 100 posting its biggest gain that we've seen in just about two weeks.

Sector action, most of the sectors here closing to the upside. Some of the biggest gainers coming from technology, communication services among the leaders here in today's action. As we see the big cap names really set the pace. For more, let's bring in Eddie Ghabour. He is KeyAdvisors Group owner and author of "Common Sense Bull."

We also have Zach Hill, Horizon Investments head of portfolio strategy. Zach, let me start with you. We certainly seem like we're in this holding pattern because volume has been very light if you take a look at the action over the last couple of days. All eyes on Jackson Hole, what we're going to hear from Jerome Powell tomorrow. What are your expectations and your reaction to what we've seen play out in the market over the last couple of days.

ZACH HILL: Sure. So I mean, this really does feel like an August market after a really, really tough year. As you said, volumes have been low. I've been getting a lot of out of office emails when I try to touch base with people I know in the market. And quite frankly, I'm not surprised that we've seen volatility ahead of Jerome Powell's speech.

We haven't heard from Chair Powell since last July-- since the July Fed meeting. And since, financial conditions have loosened, markets have rallied a good bit. And so there were some jitters coming into things. We saw that last Friday and then this Monday. And we were expecting Chair Powell to stick to the message, which is higher for longer rates. But then we thought markets would rally from there. And I think the market is doing a little bit that activity early in today's price action.