U.S. Stocks Rally as Dow Closes Higher and Marks Consecutive Weekly Gains

Friday, 23 August 2024, 13:04

U.S. stocks closed sharply higher, signaling strong market sentiment following Federal Reserve Chair Jerome Powell's Jackson Hole speech. The Dow rose significantly, edging closer to its record high while all major indexes recorded back-to-back weekly gains. This marks a notable moment for investors.
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U.S. Stocks Rally as Dow Closes Higher and Marks Consecutive Weekly Gains

The U.S. stock market finished sharply higher Friday, as investors appeared encouraged by Federal Reserve Chair Jerome Powell’s Jackson Hole speech signaling the Fed was on the path toward cutting interest rates.

The Dow Jones Industrial Average climbed 462.30 points, or 1.1%, to close at 41,175.08.

The S&P 500 rose 63.97 points, or 1.1%, to finish at 5,634.61.

The Nasdaq Composite gained 258.44 points, or 1.5%, to end at 17,877.79.

The Dow ended just 0.1% below its record closing high on July 17, according to Dow Jones Market Data. The S&P 500 finished 0.6% below its all-time closing high on July 16.

For the week, the Dow advanced 1.3% while the S&P 500 and technology-heavy Nasdaq each increased 1.4%, according to Dow Jones Market Data. All three major U.S. stock indexes booked back-to-back weekly gains.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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