Stock market today: Dow jumps, Nasdaq slips as stocks regroup in wait for Powell

Market Overview - US stocks showed mixed performance with the Dow Jones Industrial Average increasing by approximately 0.7%, while the S&P 500 remained flat and the Nasdaq Composite decreased by 0.3% [1] - Stocks experienced a rally, achieving record-high closes for three consecutive days, driven by optimism surrounding AI investments and anticipated Federal Reserve policy easing [2] Federal Reserve Insights - Federal Reserve Chair Jerome Powell is set to deliver a significant speech on monetary policy, which is highly anticipated following the recent interest rate cuts [2] - The upcoming speech will precede the release of the Personal Consumption Expenditures index, the Fed's preferred inflation measure, which is expected to provide insights into inflation trends [3] Inflation and Economic Indicators - Recent data indicated a cooling in US business activity, while a measure of prices paid for materials increased, suggesting ongoing price pressures in the economy [3] Sector-Specific Developments - Gold prices reached a new record high amid growing optimism for further Fed rate cuts [4] - Micron Technology is expected to report quarterly earnings, with analysts predicting nearly a 40% increase in sales driven by AI-related demand [4]