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Benzinga
Benzinga
Business
Bibhu Pattnaik

Powell's Dovish Tone Sparks Wall Street Rally, S&P 500 Rebounds From Losing Streak

Jerome Powell US Federal Reserve
Jerome Powell Speech

The financial world was abuzz on Friday as Federal Reserve Chair Jerome Powell hinted at a potential interest rate cut in September, sparking a significant rally on Wall Street.

What Happened: Powell’s dovish tone during his much-anticipated speech led to the largest cross-markets surge since April. This surge saw a significant drop in two-year yields, a rally in treasuries, and futures traders placing their bets on a rate cut in September.

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