S&P 500 Gains and Losses Today: Rate-Sensitive Stocks Jump After Powell's Remarks

Key Takeaways The S&P 500 added 1.2% on Friday, Aug. 23, after Federal Reserve Chair Jerome Powell indicated the central bank is prepared to lower interest rates. Powell's remarks helped drive gains for companies in rate-sensitive industries, including construction materials, ocean cruises, and solar power. Intuit shares tumbled after the financial software firm reported a surprise quarterly loss. Major U.S. equities indexes climbed in the week's final trading session as Federal Reserve Chair Jerome Powell ...