Reported 1 day ago
US stocks surged on Friday, with the Dow Jones climbing 800 points to a new record, following Federal Reserve Chair Jerome Powell's suggestion that a rate cut could be on the table in September. Both the S&P 500 and Nasdaq also posted significant gains as traders reacted positively to Powell's remarks concerning the economy and inflation risks. The likelihood of a rate cut jumped to 91.5%, significantly up from earlier predictions, which sparked a rally in various sectors, including cryptocurrencies and tech stocks.
Source: YAHOO