Lates News

The US stock market closed higher on Friday, with the Dow hitting a new all-time high. Federal Reserve Chairman Powell hinted at a possible rate cut in the future during his highly anticipated speech at the Jackson Hole central bank annual meeting. He stated that if conditions allow, it may be "appropriate" to lower rates, and the Fed will proceed with policy "cautiously". The Dow rose by 1.89%, the Nasdaq by 1.88%, and the S&P 500 by 1.52%.