Stock Market Live Updates: Dow Hits Record as Powell Hints at September Fed Cut
Stock Market Live Updates: Dow sets record high as Powell points to possible September Fed rate cut. S&P 500, Nasdaq climb; yields fall, crypto rallies.
U.S. stocks rallied on Friday after Federal Reserve Chair Jerome Powell said in his Jackson Hole speech that the central bank could lower interest rates as soon as September.
The Dow Jones Industrial Average rose nearly 2%, reaching a record intraday high. The S&P 500 gained about 1.6%, and the Nasdaq Composite advanced 1.9%, with technology shares bouncing back after a difficult week driven by doubts about the AI trade.
Powell said the Fed’s outlook and balance of risks may justify adjusting policy, while noting that inflation pressures tied to tariffs are now clearly visible. His remarks changed market expectations sharply: traders raised the probability of a September rate cut to more than 90%, up from about 70% earlier in the day.
Treasury yields fell after the speech, with both the 10-year and 30-year moving lower. Bitcoin and Ethereum also climbed, extending gains in digital assets.
In Washington, President Donald Trump renewed his criticism of the Fed, calling for Governor Lisa Cook to resign over alleged mortgage fraud. Trump said he would fire her if she does not step down, though presidents have no direct power to dismiss Fed governors.
Also Read: Traders Hold Gold at $3,320 Before Powell Speaks on Rates
Earnings reports also moved individual stocks. Zoom rose after highlighting growth linked to new AI features, Ross Stores advanced as consumers turned to discount retailers, while Intuit and Workday declined after results.
Stay with us for live updates as markets respond to Powell’s comments, bond yields, and earnings through the trading day.
Key Moments
- Dow jumps 2% to record, S&P 500 and Nasdaq also higher.
- Powell says September Fed rate cut is possible.
- Traders lift rate cut odds to 91% from 70%.
- Bond yields fall; Bitcoin and Ethereum rise.
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22 Aug 2025 01:28 PM
Opendoor Stock Soars 20% as Rate Cut Hopes Lift Housing PlaysOpendoor Technologies (OPEN) rallied more than 20% Friday after Jerome Powell’s Jackson Hole remarks reignited bets on a September Fed rate cut. Traders expect lower borrowing costs could revive housing demand, a key driver for Opendoor’s iBuyer model. The stock has shown heavy retail-driven volatility in recent weeks but stood out as one of the day’s strongest gainers.
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22 Aug 2025 12:46 PM
BJ’s Wholesale Club Stock Falls 8% on Weak Sales
BJ’s Wholesale Club (BJ) shares dropped 8% after Q2 revenue of $5.38B missed Wall Street’s $5.48B forecast. Comparable sales fell 0.3%, while excluding gas, they rose 2.3%. EPS of $1.14 topped expectations. The retailer trimmed its FY25 EPS outlook to $4.20–$4.35.
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22 Aug 2025 12:35 PM
Zoom Stock Jumps 5% After Strong Earnings Beat
Zoom (ZM) rose 5% in premarket trading as earnings topped estimates. EPS came in at $1.16 vs. $0.72 expected, while revenue climbed 5% to $1.2B, driven by 7% growth in Enterprise sales. The company raised its full-year outlook, though shares remain down 10% in 2025.
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22 Aug 2025 12:32 PM
Nio Stock Rises After Launch of Lower-Cost ES8 SUV
Shares of Nio (NIO) rose about 5% in premarket trading Friday after the Chinese EV maker introduced a redesigned ES8 SUV, positioned as one of its most affordable offerings to date.
Priced from 308,800 yuan (roughly $43,000) with a battery subscription plan, the new model reduces upfront purchase costs while allowing owners to upgrade batteries through monthly payments. The pricing strategy underscores Nio’s push to capture more market share in China’s increasingly competitive electric vehicle sector, where Tesla (TSLA) remains its biggest rival.
Deliveries of the ES8 are scheduled to begin in late September, with the model already drawing significant attention. Nio was the most-searched stock on Yahoo Finance Friday morning following the announcement.
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22 Aug 2025 12:29 PM
Trump Says He’ll Fire Fed Governor Lisa Cook if She Refuses to Resign
Minutes after Jerome Powell’s Jackson Hole remarks reignited expectations for a September rate cut, former President Donald Trump escalated his pressure campaign on the Federal Reserve. Trump said Friday he would “fire” Fed governor Lisa Cook if she does not resign, accusing her of misconduct tied to mortgage fraud.
While presidents cannot directly dismiss Federal Reserve governors — who serve fixed terms and can only be removed for cause — Trump’s comments highlight the heightened political tension surrounding Fed independence at a moment when monetary policy is under intense scrutiny.
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22 Aug 2025 12:25 PM
Ethereum Outperforms with 8% Surge While Bitcoin, Solana, XRP Rise
Ethereum (ETH-USD) jumped 8.6% on Friday, leading a broad rebound in digital assets after Fed Chair Jerome Powell’s Jackson Hole speech fueled expectations for a September rate cut. Bitcoin (BTC-USD) added 2.7%, while Solana (SOL-USD) and XRP (XRP-USD) each advanced about 4%.
Crypto-linked equities rallied in tandem: Coinbase (COIN) +6.6%, MicroStrategy (MSTR) +5.7%, Robinhood (HOOD) +4.2%, and Circle (CRCL) +9.6%. The moves helped recover losses from earlier in the week, though MSTR and HOOD remain on track for weekly declines as tech volatility lingers.
