Wall Street rallies and the Dow soars 800 points on hopes for lower interest rates

Wall Street rallies and the Dow soars 800 points on hopes for lower interest rates Updated 19 mins ago Wall Street is rallying after the head of the Federal Reserve indicated cuts to interest rates may be coming, though he gave no clear clue about when. The S&P 500 jumped 1.6% Friday, and its first gain in six days has it on track to top its all-time high set last week. The Dow Jones Industrial Average soared 890 points toward its own record, and the Nasdaq composite climbed 1.9%. Treasury yields sank after Jerome Powell indicated the next move for the Federal Reserve may be a cut, even if concerns about inflation remain.