{"id":168896,"date":"2025-08-23T10:20:18","date_gmt":"2025-08-23T10:20:18","guid":{"rendered":"https:\/\/www.europesays.com\/us\/168896\/"},"modified":"2025-08-23T10:20:18","modified_gmt":"2025-08-23T10:20:18","slug":"dow-jumps-800-points-to-record-sp-500-nasdaq-soar-as-powells-jackson-hole-finale-fuels-bets-on-september-rate-cut","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/168896\/","title":{"rendered":"Dow jumps 800 points to record, S&P 500, Nasdaq soar as Powell’s Jackson Hole finale fuels bets on September rate cut"},"content":{"rendered":"\n

US stocks soared on Friday as Federal Reserve Chair Jerome Powell opened the door<\/a> to a September rate cut during his highly anticipated speech at Jackson Hole.<\/p>\n

The Dow Jones Industrial Average (^DJI<\/a>) rose 800 points or 1.9% to close at a fresh record, while the S&P 500 (^GSPC<\/a>) moved up about 1.5%, and the tech-heavy Nasdaq Composite (^IXIC<\/a>) climbed 1.9%. Friday’s surge came on the heels of a downbeat week<\/a> for markets, as tech stocks took a hit amid AI trade doubts<\/a>.<\/p>\n

Fed Chair Powell raised the prospect of the central bank lowering interest rates in September on Friday, saying in his speech that “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”<\/p>\n

With the speech touching on both the country’s economic outlook and the Fed’s new policy framework, Powell noted that risks from inflation remain “tilted to the upside,” saying that tariff-related inflation pressures “are now clearly visible.”<\/p>\n

His remarks shook up rate-cut bets, which had been waning after a weak monthly jobs report. Traders on Friday were pricing in about 91.5% odds of a September cut<\/a> compared to 70% earlier in the morning and 85% a week ago.<\/p>\n

Meanwhile, the 10-year (^TNX<\/a>) and 30-year (^TYX<\/a>) Treasury yields fell after Powell’s remarks. The commentary also spurred a gain in bitcoin (BTC-USD<\/a>) and other cryptocurrencies, with ethereum (ETH-USD<\/a>) leading the crypto gains.<\/p>\n

The White House watched Powell’s speech closely, as President Trump has continued to push the Fed and Powell to lower rates. Trump opened a new front in his public pressure campaign<\/a> on central bank independence by calling for the resignation<\/a> of Fed governor Lisa Cook for alleged mortgage fraud. On Friday, Trump said he’ll “fire” Cook if she doesn’t resign, though legally, presidents cannot easily dismiss Fed governors<\/a>.<\/p>\n

On the earnings front, Zoom<\/a> (ZM<\/a>) stock popped<\/a> Friday after reporting an AI boost, and Ross Stores (ROST<\/a>) jumped<\/a> as shoppers sought discounts amid tariffs. Intuit<\/a> (INTU<\/a>) and Workday<\/a> (WDAY<\/a>), meanwhile, slid.<\/p>\n

Shares of Intel (INTC<\/a>) jumped 5% after President Trump said<\/a> the government will take a 10% stake in the ailing chip giant, calling it a “great deal.”<\/p>\n

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