With a majority of the stock market indexes (^DJI, ^IXIC, ^GSPC) resuming their record-high runs this year in May, how is investor sentiment shaping up for the month of June? Investors are attentively awaiting Friday's Personal Consumption Expenditures (PCE) Price Index — the Federal Reserve's preferred inflation gauge — and whether the Fed could give the go-ahead for an interest rate cut as early as September.

Interactive Brokers Chief Strategist Steve Sosnick sits down with Yahoo Finance's The Morning Brief to discuss the market's volatility levels and what Wall Street wants to hear from the Fed, most notable Chair Jerome Powell.

"The market... [doesn't] want to hear from the supporting cast, they only want to hear from the lead actor, and the difference is Powell always skews dovish. Powell tends to skew dovish... even if he's got bad news he'll temper it with some sort of decent sounding out," Sosnick explains. "The others basically come back come out and tell you what they see is going to happen. This is not new."

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.