🚨 UPDATE: $140B was added to the crypto market in one hour following Powell's speech. https://t.co/EEa5Vw0yfE ...

Market Performance & Analysis - The Dow Jones Industrial Average soared by 860 points, the S&P 500 rose by more than 15%, and the tech-heavy NASDAQ increased by nearly 2% following Jerome Powell's speech at Jackson Hole [1] - The Russell 2000 small-cap index showed significant gains, up 37% for the day and the week, indicating a positive response to the prospect of rate cuts [1] - The 10-year Treasury yield dropped by seven basis points to 426%, and the 30-year yield decreased by four basis points to 488%, signaling risk-on behavior in the markets [1] - Ten out of eleven sectors experienced gains, with consumer discretionary (retail) leading at a 3% increase, followed by energy, materials, industrials, and financials [1] Federal Reserve & Monetary Policy - Fed Chair Jerome Powell's speech at Jackson Hole opened the door to a potential rate cut in September, influencing market sentiment [1][2] - The market is pricing in a near certainty of a 25 basis point rate cut next month, although this could change based on upcoming inflation reports [1] - The Fed has adopted a long-term inflation target of 2%, dropping the average inflation targeting [1] - There is anticipation of a September revision to the jobs report, potentially showing a significant downward adjustment of 550,000 to 800,000 jobs, which may be influencing the Fed's stance [2] Company Specific News - President Trump suggested the US government should take a 10% stake in Intel, equating to about $10 billion [4] - Nvidia is working with the US government to develop a follow-up to its H20 chip for China, while also halting some H20 production due to security concerns raised by the Chinese government [5] - Apple is in early discussions to use Google Gemini in a revamped version of Siri [7] Crypto Market - Ethereum led crypto gains following Fed Chair Powell's speech, with risk appetite rising and digital assets showing strength [6] - Stable coin issuers are being eyed as potential top buyers of US Treasury bills, especially after the passage of the Genius Act, which creates guard rails around the stable coin industry [8]

🇺🇸POWELL: The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance. https://t.co/G1MKsyMG6n ...

Then after Powell's speech all the charts started ripping. It was crazy bro. https://t.co/ws928MpV28 ...

JUST IN: September rate cut odds spike from 74% to 90% during Powell's speech. 📈 ...

$BTC desperately needs Powell to save the day when he talks today cause she looking heavy ...

💥BREAKING:The probability of a FED rate cut in September drops to 73%.Powell's speech tomorrow will be critical. https://t.co/HSGwZUaLfd ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick here with Scarlet Fu taking you through to that closing bell with a global simulcast. We're joined right now by Tim Stenovec.in the radio booth, Emily Graffeo in today for Carol Massar. Welcome to our audiences across all of our Bloomberg platforms, including our partnership with YouTube here on a relatively subdued day in U.S. equity markets. Yeah, equity markets are subdued.We've been laser focused on everything happening ...