Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.

Stocks surged Friday and the Dow closed at its first record high of the year after Federal Reserve Chair Jerome Powell signaled interest rate cuts could be on the way.

Fed Chair Jerome Powell sparks a stock-market rally Friday, with his Jackson Hole speech opening the door to an interest rate cut in September.

The hope among investors had been that Powell would hint that the Fed's first cut to interest rates of the year may be imminent.

Wall Street ended higher on Friday with the Dow closing at a record high after investors welcomed Federal Reserve Chair Jerome Powell’s remarks at Jackson Hole.

Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.

A strong rally erupted on Friday on Wall Street shortly after Federal Reserve Chair Jerome Powell delivered a notably dovish message during his highly anticipated speech at Jackson Hole. IWM ETF is moving fast.

The Dow Jones Industrial Average was on track for its first record close since December on Friday after Federal Reserve Chair Jerome Powell opened the door to a September rate cut, sparking a broad stock-market rally.

Away from tech, markets have been exceedingly serene of late, with the Dow industrials moving less than 0.1% in either direction for five straight sessions. According to Dow Jones Market Data, that's the longest such stretch since June 1994.