Jackson Hole, consumer sentiment, AMC, Facebook: What to watch

All eyes are on Jackson Hole as Fed Chair Powell is scheduled to deliver his highly anticipated speech on the economy. Consumer sentiment will be released for the month of August. Shares of AMC (AMC, APE) continue to fall ahead of its stock conversion. Facebook (META) account holders may be able to receive payment as part of the Facebook–Cambridge Analytica data scandal. Yahoo Finance's Seana Smith breaks down what to watch on Friday.

Video Transcript

SEANA SMITH: Well, here's what to watch on Friday. All eyes on Jackson Hole tomorrow as Fed Chair Jerome Powell steps up to the podium for his highly-anticipated speech on the economy. Investors will be listening for any clues on where interest rates could be headed.

And here on Yahoo Finance, we will have plenty of reaction to Powell's speech plus more insight into the global economy from former Kansas City Fed President Esther George and former Fed vice chairman Alan Blinder. We'll also get a read on the consumer here with consumer sentiment for the month of August. It comes as we've heard some mixed results from retailers, especially as many have warned about slowing spending.

And investors are watching AMC. The stock down 26% today after the theater chain concluded a 10-for-1 reverse stock split today. And on Friday, AMC's preferred equity units will convert to common stock. The two moves ultimately mean that someone who owns one share of APE, the preferred equity units, will now only own a tenth of a single AMC share. AMC CEO Adam Aron saying that the move will allow the company to raise additional equity capital.

And finally, if you have a Facebook account, you may be able to get a payment-- a payout here as part of the Cambridge Analytica scandal settlement. But you will have to act fast. Tomorrow is the deadline for anyone in the US to file a claim after Facebook was accused of sharing users' data without their consent five years ago.