US EditionUS Stocks Rally, Dollar Drops as Fed Chief Fuels Rate Cut Hopes
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2 Articles
US stocks rally, dollar drops as Fed chief fuels rate cut hopes
NEW YORK, United States — US stocks rallied Friday as US Federal Reserve chief Jerome Powell left the door open to cutting interest rates. This also sent the dollar dropping against the euro and other major currencies. Investors had been eagerly waiting for Powell’s speech all week. They are hoping to hear hints that the Fed
US stocks are rising sharply after a speech by US Federal Reserve Chairman Jerome Powell. He hinted at a possible rate cut at the next monetary policy meeting, but did not explicitly commit to the move in his speech in Jackson Hole. The Nasdaq Composite technology index is up two percent to 21,521 points. The broader S & P 500 index is up 1.6 percent to 6,471 points. The Dow Jones index, which includes shares of three dozen leading industrial co…
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