On the 22nd of this month, the New York stock market experienced a significant surge, with the Dow Jones Industrial Average rising by over 900 points at one point during trading. This increase followed a speech by Jerome Powell, the Chair of the Federal Reserve (often abbreviated as the Fed), in which he hinted at the possibility of interest rate cuts in the upcoming month. Such indications typically lead to increased buying activity in the stock market as investors anticipate a more favorable economic environment.
The Dow Jones Industrial Average, a key indicator of the stock market’s performance in the United States, reached new highs during this trading session, reflecting heightened investor confidence in the potential for lower borrowing costs.
Source: www3.nhk.or.jp