The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) are all jumped higher after Federal Reserve Chairman Jerome Powell said rate cuts are on the way. Speaking at the Kansas City Fed’s Jackson Hole Economic Symposium on Friday morning, Powell said “the time has come” for the central bank to start cutting rates. One of the biggest beneficiaries was Redfin (RDFN), which saw its shares jump more than 20% after the speech. Other trending tickers include Roku (ROKU), Cava (CAVA), and Intuit (INTU).
Key guests include:
3:05 p.m. ET – Ryan Sweet, Oxford Economics Chief U.S. Economist
3:30 p.m. ET – Jeannette Lowe, Strategas Securities Director of Policy Research
4:05 p.m. ET – Raphael Bostic, Atlanta Fed President
4:20 p.m. ET – Pierre-Olivier Gourinchas, IMF Chief Economist
4:45 p.m. ET – Jared Bernstein, White House Council of Economic Advisers Chair