Dow soars 800 points and hits record high
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Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.
The Dow Jones Industrial Average (DJI) has hit an intraday all-time high at more than 45,690 points. The record was previously reached on Tuesday with an intraday high of 45,207.39 points, before the index retreated to close flat.
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Investor's Business Daily on MSNStock Market Today: Dow Leaps 800 Points As Powell Bolsters Rate-Cut Hopes; Nvidia Earnings Loom
The Dow Jones index soars to an all-time Friday on increased hopes of a rate cut at the September Federal Reserve meeting.
An early rally faded on Friday and the Dow just missed out on closing at its first record high of the year. US stocks were mixed on Friday. The Dow closed higher by 35 points, or 0.08%. Meanwhile, the S&P 500 fell 0.
The Dow Jones Industrial Average was on track for its first record close since December on Friday after Federal Reserve Chair Jerome Powell opened the door to a September rate cut, sparking a broad stock-market rally.
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