Stocks rally after Powell hints at interest rate cuts, boosting hopes for economy

From Google: 2024-08-23 15:01:00

The stock market rallied after Federal Reserve Chairman Jerome Powell signaled that interest-rate cuts may be on the horizon. The Dow Jones Industrial Average and Nasdaq both saw gains in response to Powell’s comments. Investors are hopeful that the central bank will take action to support the economy amid growing concerns about trade tensions and a potential global economic slowdown. Powell’s remarks have reignited speculation about potential rate cuts later this year. This news comes as major U.S. stock indexes have been facing volatility in recent weeks due to trade uncertainty and other economic factors.



Read more at Google: Stock Market Today: Dow, Nasdaq Rally After Powell Says ‘Time Has Come’ for Interest-Rate Cuts — Live Updates – The Wall Street Journal