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According to Jinse Finance, Federal Reserve Chairman Jerome Powell stated at the Jackson Hole annual meeting that although inflation remains a concern, rising risks in the labor market may prompt the Fed to cut interest rates in September. All three major U.S. stock indexes closed higher: the Dow Jones rose 1.89% and gained 1.53% for the week; the Nasdaq rose 1.88% but fell 0.58% for the week; the S&P 500 rose 1.52% and was up 0.27% for the week. Notably, the Dow Jones hit a new record high, and both the Dow and S&P 500 have risen for three consecutive weeks. The KBW Bank Index climbed 3.2%, reaching its highest level since 2022. Major tech stocks saw broad gains: Tesla surged over 6%, marking its largest single-day increase in two months; Intel rose more than 5%; Google and Amazon both gained over 3%; AMD and Meta were up more than 2%; Apple and Nvidia rose over 1%; and Microsoft posted a modest increase. Netflix edged down slightly. Opendoor soared more than 39%, reaching its highest level since August 2023.

According to ChainCatcher, citing Jinshi News, the Dow Jones Industrial Average closed up 846.24 points, or 1.89%, at 45,631.74 on August 22 (Friday); the S&P 500 closed up 96.74 points, or 1.52%, at 6,466.91; and the Nasdaq Composite closed up 396.22 points, or 1.88%, at 21,496.53.