Powell hints at possible rate cut
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The Cboe Volatility Index (VIX) fell to its lowest level of the year on Friday, as US stocks surged following a highly-anticipated speech from Federal Reserve Chairman Jerome Powell that bolstered the case for a September interest-rate cut.
Stocks climbed and U.S. Treasury yields and the dollar fell on Friday after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank's September meeting.
Federal Reserve Chair Jerome Powell's speech at Jackson Hole on Friday morning was setting off a broad rally on Wall Street, but it’s been small-cap stocks shining the brightest. Small-cap stocks, as measured by the benchmark Russell 2000 index,