Reported about 2 months ago
On Friday, U.S. stock markets rallied following Federal Reserve Chair Jerome Powell's announcement that the time has come to begin cutting interest rates. The S&P 500 rose approximately 1.2%, the Dow Jones increased by about 1.1%, and the tech-heavy Nasdaq climbed roughly 1.5%. Powell's remarks at the Kansas City Fed's economic symposium indicated a shift in policy is imminent, with market expectations favoring a September rate cut. This news encouraged investors, particularly benefiting sectors like real estate and tech.
Source: YAHOO