Federal Reserve chairman Jerome Powell signaled a possible interest rate cut in the months to come, something President Trump has been agitating for.

At 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average rose 846 points or 1.9% to hit a fresh record close of 45,631.74. the S&P 500 index gained 1.6%, and the NASDAQ Composite climbed 2%.

US Federal Reserve Chairman Jerome Powell has indicated that a potential rate reduction could occur during September’s ...