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US stocks soar, S&P 500 and NASDAQ hit record highs following Powell’s steadfast stance

US stocks soar, S&P 500 and NASDAQ hit record highs following Powell's steadfast stance

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12:05pm: US markets a sea of green at the midday  Markets reacted positively after the awaited speech from Federal Reserve chair Jerome Powell at the Jackson Hole virtual symposium. Signaling that the Fed was in no rush to wind down stimulus initiatives, the dovish tone sent stocks surging ahead.

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