The US stock market ended Friday's session with a significant spike, particularly with the Dow Jones hitting an all-time record. This was linked to remarks from the Federal Reserve Chair.
Records in Stock Market
The Dow closed up 846 points at 45,631.74 after Jerome Powell announced the possibility of rate cuts next month. His comments during the Jackson Hole symposium triggered a flurry of trading in the stock market.
Tech Prices Surge
Major tech stocks saw significant gains, with Nvidia rising 1.7%, Meta Platforms gaining over 2%, while Alphabet and Amazon increased by more than 3%. Tesla shares surged the most, up 6% at the close.
Bitcoin on the Rise
Bitcoin also showed an upward trend, rising 4.10% to $117,035, driven by the broader risk rally and a weakening dollar. Just a week earlier, it had hit a new all-time high above $125,000.
Financial markets are reacting to expectations of changes in Fed policy, leading to gains in stock indices and assets, including Bitcoin. This reflects ongoing interest and volatility across various sectors.
