Reported 1 day ago
U.S. stocks soared on Friday after Federal Reserve Chair Jerome Powell signaled a potential rate cut in September during his speech at Jackson Hole. This dovish stance rejuvenated speculative investments across meme stocks and cryptocurrencies, with notable gains in Ethereum and Opendoor. Many saw this as a shift towards a broader market rally, moving beyond just large-cap tech stocks, as investors welcomed the prospect of lower borrowing costs and stronger earnings growth.
Source: YAHOO