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Stock Market Today: Stocks Swing Higher on Powell Speech

The article from Kiplinger discusses the stock market's reaction to Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Economic Symposium. Powell's remarks were seen as dovish, indicating that the Fed would proceed carefully with interest rate decisions, focusing on incoming economic data. This led to a positive market response, with major indices like the Dow Jones Industrial Average, S&P 500, and Nasdaq all closing higher. The market interpreted his comments as a signal that the Fed might pause or moderate its rate hikes, which alleviated some concerns about aggressive monetary tightening. Additionally, the article mentions that despite the positive market movement, there was still underlying uncertainty about future economic conditions, inflation, and potential policy changes. Other news included updates on corporate earnings, with companies like Nvidia and Snowflake reporting, and economic indicators like the PCE price index showing inflation cooling, which further influenced market sentiment.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/stock-market-today-stocks-swing-higher-on-powell-speech ]