Skip to content
Subscriber Only

U.S. Stocks Rise With Gold, Dollar Slips on Powell: Markets Wrap

  • Fed chairman signals willingness to ease policy this month
  • Certainty of cut pushes equities to records before pullback
Video player cover image
Powell: Trade, Global Economic Concerns Weigh on U.S. Economic OutlookSource: Bloomberg
Updated on

U.S. stocks rose toward all-time highs, gold rallied and the dollar fell as comments by Jerome Powell cemented market bets for a rate cut this month. Treasuries were mixed.

Equities that had slumped since Friday’s strong jobs report rallied back to intraday records after the Fed chairman signaled a willingness to lower rates, citing a slowing global economy and trade issues. Minutes from the Fed’s June meeting confirmed an inclination among officials to cut rates soon.