Stocks climb as investors bet on rate cut following Jerome Powell speech

Markets surged on Friday following Federal Reserve Chair Jerome Powell’s speech, hinting at potential interest rate cuts to stimulate the economy despite inflation risks. The S&P 500 rose 1.6%, the Nasdaq increased 2%, and the Dow Jones gained over 2%, buoyed by Powell’s acknowledgment of labor market concerns and Canada’s decision to reduce tariffs on U.S. goods.

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