The Dow was set for its first record close of the year and bond yields fell after Federal Reserve Chair Jerome Powell struck an upbeat tone on a September interest-rate cut.

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Live Updates Live Coverage Updates appear automatically as they are published. Friday Wrap-up 4:10 pm The Vanguard S&P 500 ETF closed at 593.22 Friday, up 1.5% for the day but only 0.3% for the week.

An exchange-traded fund that equally weights stocks in the S&P 500 was outperforming the U.S. equities benchmark on Friday, in a broad rally sparked by Federal Reserve Chair Jerome Powell’s remarks on monetary policy.

The stock market surged Friday after Federal Reserve Chair Jerome Powell signaled openness to the central banks cutting rates soon.

Live Updates Live Coverage Has Ended Thursday Wrap-up 4:17 pm The Vanguard S&P 500 ETF closed at 584.27 Thursday, down 0.4%. Morgan Stanley Loves HP Enterprise 12:31 pm In analyst action, Morgan Stanley analyst Erik Woodring upgraded shares of HP Enterprise (NYSE: HPE) to overweight with a $28 price target this morning.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

President Donald Trump has exerted unprecedented influence on the U.S. economy, and global financial markets, since his return to the White House earlier this year. But his efforts to dictate Federal Reserve interest rates,

Opendoor's vocal supporter Anthony Pompliano took to X to celebrate Powell's remarks and what interest rate cuts could mean for the company. "Interest rate cuts are big for OPEN. Powell can unfreeze the housing market," Pompliano wrote.

Shares of business intelligence platform Domo (NASDAQ:DOMO) fell 4.6% in the pre-market session after a broader market downturn impacted the technology sector, as investors grew cautious ahead of a key speech by Federal Reserve Chair Jerome Powell.