Shares of Plug Power Inc (NASDAQ:PLUG) are trading higher Friday afternoon following Federal Reserve Chair Jerome Powell's dovish Jackson Hole remarks, as investors reposition toward growth equities amid rising odds of interest rate cuts.
What To Know: Powell warned that "downside risks to employment are rising" and emphasized the Fed's willingness to adjust monetary policy should job losses accelerate. Markets interpreted the shift as a signal that rate cuts could arrive as early as the fall, a development with outsized implications for growth companies like Plug Power.
