(The Center Square) – The Dow Jones Industrial Average clinched a record high Friday for the first time this year hours after Federal Reserve Chair Jerome Powell hinted that the Fed may soon lower interest rates.

The Dow climbed 846 points, or 1.89%, from Thursday’s close to an all-time high of 45,631.74.

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Both the broadly diversified S&P 500 and the tech-heavy Nasdaq have recorded more than 15 record highs in 2025.

Investors across the country watched Powell’s live streamed address at an economic symposium in Jackson Hole, Wyo., Friday, where

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