Dow Jones Today: Stocks Soar
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Jackson Hole, Walmart and federal open market committee
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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.
Stocks surged Friday and the Dow closed at its first record high of the year after Federal Reserve Chair Jerome Powell signaled interest rate cuts could be on the way.
If the S&P 500 breaks below 6,200, that's a sign the stock market may be headed for a more serious decline, Bank of America said.
A blistering cross-asset rally drove the Dow Jones Industrial Average to close at an all-time high for the first time since December as the staid blue-chip gauge finally caught up to the riskier corners of the stock market.
Fed Chair Jerome Powell seems ready to cut interest rates in the fall but will still rely on incoming economic data about inflation and employment.
Oracle Corp. closed 9.39% below its 52-week high of $260.87, which the company reached on July 31st.
The Nasdaq Composite extended its slide on Tuesday–and even the Dow Jones Industrial Average was struggling after hitting an intraday record this morning. The tech-heavy index was down 1.5%, while the Dow was down 90 points,
President Trump's tariffs continue to affect global markets and the economy. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
Stock futures are pointing to a slightly lower open for major indexes on Wednesday as investors respond to a slew of earnings reports from retailers and brace for a big speech later in the week by Federal Reserve Chair Jerome Powell.
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