NEW YORK (AP) — Wall Street is rallying on Friday after the head of the Federal Reserve indicated cuts to interest rates may be coming in a highly anticipated speech , though he gave no clear clue about when.

The S&P 500 jumped 1.3% and erased all of its loss for the week. It’s coming off its fifth straight modest loss after setting an all-time high last week. The Dow Jones Industrial Average was up 649 points, or 1.4%, as of 10:05 a.m. Eastern time, and the Nasdaq composite was 1.3% higher.

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