Fed Chair Jerome Powell's address displayed on a screen at the NYSE. (Photographer: Michael Nagle/Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Stocks rose to a session high as the head of the Federal Reserve spoke following the third consecutive interest-rate cut at a policy meeting Wednesday. Bond yields and the dollar fell.

The S&P 500 rose as much as 0.8%, putting the benchmark on track for a record close, after Fed Chair Jerome Powell pointed to downside risks for labor. The Nasdaq 100 turned positive while the Russell 2000 gauge of small-caps jumped 1.8% to a record high.

The rally in US stocks had stalled this week after traders pulled big bets off the table, with mixed economic signals and divisions among Fed policymakers clouding the outlook for rat

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