At 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average rose 846 points or 1.9% to hit a fresh record close of 45,631.74. the S&P 500 index gained 1.6%, and the NASDAQ Composite climbed 2%.

The Dow Jones Industrial Average rose 846.24 points, or 1.89%, to 45,631.74, surpassing its most recent record close on ...

Traders boosted bets on a September rate cut after Powell’s comments, now placing a nearly 90% chance of a reduction, versus ...

His comments paved the way for a potential rate cut at the Fed's September meeting, although Powell stressed the importance ...