Stocks rebounded on Friday, with Dow hitting record high after Powell’s speech at Jackson Hole Economic Symposium. Dow surged 846.24 points to 45,631.74, Nasdaq rose 396.22 points to 21,496.53, and S&P 500 jumped 96.74 points to 6,466.91. Powell’s remarks increased confidence in Fed cutting rates next month, with an 83.1% chance per CME Group’s FedWatch Tool. Airlines, oil services, housing, networking, steel, and computer hardware stocks saw gains. In overseas trading, Asia-Pacific markets were mixed, while major European markets moved higher. Treasury yields fell in reaction to Powell’s speech. Earnings news from Nvidia and economic reports are anticipated next week.

Read more at 1. “Tech giant Apple announces record-breaking profits for the fourth quarter of 2021, with revenue reaching $123.9 billion.” – CNBC

2. “Tesla’s stock price surges after reporting better-than-expected earnings, with revenue of $13.76 billion for the quarter.” – Reuters

3. “Amazon reveals plans to invest $1 billion in affordable housing projects in three U.S. cities, aiming to create over 2,000 affordable homes.” – Wall Street Journal

4. “Facebook’s parent company Meta faces growing scrutiny over its handling of misinformation on its platforms, with calls for increased regulation.” – CBS MarketWatch

5. “Google announces a partnership with major healthcare providers to offer virtual healthcare services through its Google Health platform.” – Barchart: Positive Reaction To Powell Speech Sparks Rally On Wall Street