Stocks climbed on Friday as Federal Reserve Chair Jerome Powell said the "time has come" to begin cutting interest rates, offering the clearest signal yet that the central bank is prepared to begin an easing cycle, with major implications for the economy. The S&P 500 rose 1%, while the Dow Jones Industrial Average added 0.7%. The tech-heavy Nasdaq Composite led gains, up roughly 1.5%, as all three gauges eyed a comeback from Thursday's closing losses.
Speaking at the Kansas City Fed's annual economic symposium in Jackson Hole, Powell said: "The time has come for policy to adjust." "The direction of travel is clear," Powell added, "and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks." Slowing economic data has convinced the market to position for the Fed to lower rates in September, with opinion divided on the depth of the cut.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Stock market today: Nasdaq leads stocks higher as Powell waits in the wingsInvestors are bracing for a pivotal speech by Fed Chair Jerome Powell that is likely to shape expectations on policy, the economy, and the future path of...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »
Gold, stocks, and cryptos sink lower as investors await Powell’s comments on interest ratesThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Källa: KitcoNewsNOW - 🏆 13. / 78 Läs mer »
Stock market news today: US stocks set for rebound as investors wait for key inflation dataInvestors are looking to the Fed-favored inflation data to calibrate the timing and depth of rate cuts.
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »
3 stocks retail investors turned to when stocks fell this weekSome retail investors used the market sell-off earlier this week as a buying opportunity. IG Group North America CEO JJ Kinahan joins Yahoo Finance to...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »
Stock market today: Wall Street climbs ahead of speech by Fed chief PowellNEW YORK (AP) — Stocks are climbing on Wall Street, but the market’s focus is thousands of miles to the west, where the head of the Federal Reserve is about to give a highly anticipated speech about interest rates. The S&P 500 was 0.
Källa: SooToday - 🏆 8. / 85 Läs mer »