Market Report - US Close

US close: Stocks surge as Powell signals impending rate cut

By Benjamin Chiou

Date: Friday 23 Aug 2024

(Sharecast News) - Wall Street's three equity benchmarks surged well over 1% each on Friday after the head of the Federal Reserve cemented expectations for an interest-rate cut next month, saying "the time has come for policy to adjust".
Speaking at the Jackson Hole symposium in Wyoming, Fed chair Jerome Powell...

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