Powell’s Jackson Hole Signal Sends Dow, S&P 500, Nasdaq to Fresh Highs
The Dow Jones Industrial Average (^DJI) surged 846 points Friday, closing at a record 45,631.74, as Jerome Powell’s Jackson Hole remarks shifted the market’s outlook toward imminent monetary easing. The S&P 500 (^GSPC) gained 1.52% to finish at 6,466.91, within a whisper of its all-time high, while the Nasdaq Composite (^IXIC) jumped 1.88% to 21,496.53. Futures markets reacted instantly, pricing in more than a 90% probability of a September rate cut, up from 73% before Powell’s speech. Treasury yields tumbled, with the 10-year falling to 4.26% and the 2-year dropping below 3.71%.
Tech Megacaps Power Gains: NVDA, AAPL, GOOGL, TSLA Lead the Charge
Rate cut optimism sparked outsized rallies in technology heavyweights. Tesla (TSLA) soared 6.2%, outperforming all of the “Magnificent Seven,” while Alphabet (GOOGL) and Amazon (AMZN) each advanced over 3%.
