Stock market today: Dow rises 200 points, S&P 500 advances as wait for Powell begins

US stocks advanced on Monday after posting their best week in a year as investors began counting down to a speech by Fed Chair Jerome Powell at Jackson Hole that could reset rate cut expectations. The S&P 500 rose 0.5%, on pace towards its longest winning streak of the year. The Dow Jones Industrial Average also gained 0.5% or more than 200 points, while the tech-heavy Nasdaq Composite increased more than 0.5%.

Last week's rally recouped the losses stacked up in an early August sell-off as Wall Street fretted about cracks in the economy — concerns that have since been eased by encouraging inflation and consumer spending data. Focus is already turning to Powell's speech at the central bank's Jackson Hole symposium on Friday in a quiet week for economic data.

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