Sou Hu Cai Jing·2025-08-23 02:05Market Overview - The U.S. stock market saw all three major indices close higher, with the Dow Jones reaching a historic high of 45,631.74 points, up 1.89% [1] - The S&P 500 index rose by 1.52% to 6,466.91 points, while the Nasdaq increased by 1.88% to 21,496.53 points [1] - Following Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole conference, market expectations for a rate cut in September surged, with traders estimating a nearly 90% probability, up from about 75% before the speech [1] Technology Sector Performance - Major technology stocks experienced significant gains, with Tesla rising over 6%, Google up more than 3%, Amazon increasing over 3%, and Facebook gaining over 2% [3] - Other notable tech stocks included Nvidia, which rose over 1%, Apple up by over 1%, and Microsoft increasing by 0.59% [3] Cryptocurrency and Commodities - Gold prices rose, with spot gold increasing by 0.99% to $3,371.86 per ounce, marking a weekly gain of 1.07% [5] - COMEX gold futures also saw a rise of 1.05%, closing at $3,417.00 per ounce, with a weekly increase of 1.02% [5] - The cryptocurrency market saw a collective rise, with Bitcoin increasing by over 3% and Ethereum surging past its previous all-time high of $4,871.42, having gained over 250% since its low in April [8] Federal Reserve Insights - Powell indicated that the Fed remains open to the possibility of rate cuts in the coming months, despite ongoing inflation risks [11] - He noted that the U.S. economy shows resilience amid high tariffs and tightening immigration policies, but labor market and economic growth have significantly slowed [10] - Powell emphasized the need for careful evaluation of risks to avoid turning temporary price increases into long-term inflation issues, reaffirming the Fed's commitment to maintaining a 2% inflation target [11]