Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.

Federal Reserve Chair Jerome Powell's closely watched Jackson Hole speech on Friday boosted optimism in markets that the U.S. central bank is poised to ease rates, sending investors to pile into riskier assets and interest-rate-sensitive sectors.

If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.