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. The blue-chip Dow (DJI) was the top performer on the day as it finished on top by 1.

Wall Street's main indexes ended higher on Friday, with the blue-chip Dow hitting a record closing high, as investors piled into stocks after U.S. Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech.

Wall Street traders dialed up bets on rate cuts Friday and tamped down their expectations of future volatility. Futures pricing Friday suggested traders saw a roughly 83% chance that the Fed will cut rates at its next meeting,