Dow soars 800 points and hits record high
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Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
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Investor's Business Daily on MSNStock Market Today: Dow Jones Surges To All-Time High On Rate Cut Hopes; Nvidia, Palantir Jump (Live Coverage)
The Dow Jones soared to an all-time Friday on increased hopes of a rate cut at the September Federal Reserve meeting.
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.
U.S. stocks were rallying midday Friday on Federal Reserve Chair Jerome Powell’s Jackson Hole speech, as traders seemed more optimistic that the Fed may cut interest rates next month. The Dow Jones Industrial Average was up almost 907 points,
If the S&P 500 breaks below 6,200, that's a sign the stock market may be headed for a more serious decline, Bank of America said.
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