S&P, Nasdaq end at records following Powell speech

Share
1 min read
Patrick J. O'Hare at Briefing.com said traders were particularly encouraged by Powell's statement that even if the bank tapers bond purchases, that doesn't mean it will soon raise interest rates.
Avatar image of TRENDS Desk AFP
August 28, 2021 10:35 pm
Share
  • At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 -- its first close over the 4,500 mark
  • The tech-rich Nasdaq Composite Index jumped 1.2 percent to 15,129.5

Wall Street ended the week with new records after Fed Chair Jerome Powell signaled the central bank could slow its stimulus by the end of the year but is in no rush to raise interest rates.

At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 — its first close over the 4,500 mark — and the tech-rich Nasdaq Composite Index jumped 1.2 percent to 15,129.5. Both had retreated on Thursday after multiple records.

The benchmark Dow Jones Industrial Average was up 0.7 percent to end at 35,455.8.

SPEEDREAD

  • At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 -- its first close over the 4,500 mark
speedread
  • At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 -- its first close over the 4,500 mark

MORE FROM THE POST