Fed Chair Powell hinted at upcoming rate cuts. What does that mean for OPEN?

Shares of Opendoor Technologies ( OPEN 39.03% ) are flying higher on Friday, up 24.8% as of 1:15 p.m. ET. The jump comes as the S&P 500 gained 1.4% and the Nasdaq Composite gained 1.7%.

Federal Reserve Chairman Jerome Powell gave a speech this morning that signaled interest rate cuts could be coming. The news sent stocks across the market higher, but the effect was especially large for many riskier stocks like Opendoor's.

Why Fed rate cuts matter for Opendoor stock

Speaking at the Fed's Jackson Hole symposium, Powell highlighted that the economic picture is mixed with a lot of moving parts complicating the Fed's decision. The Fed chief acknowledged that the economy is showing resilience, but downs

See Full Page