An early rally faded on Friday and the Dow just missed out on closing at its first record high of the year. US stocks were mixed on Friday. The Dow closed higher by 35 points, or 0.08%. Meanwhile, the S&P 500 fell 0.

The Dow Jones Industrial Average was on track for its first record close since December on Friday after Federal Reserve Chair Jerome Powell opened the door to a September rate cut, sparking a broad stock-market rally.

U.S. stocks closed higher, with the Dow scoring a record high, after Fed Chair Powell suggested it was time to consider rate cuts again.

The Dow Jones Industrial Average (DJI) has hit an intraday all-time high at more than 45,690 points. The record was previously reached on Tuesday with an intraday high of 45,207.39 points, before the index retreated to close flat.

U.S. stocks were rallying midday Friday on Federal Reserve Chair Jerome Powell’s Jackson Hole speech, as traders seemed more optimistic that the Fed may cut interest rates next month. The Dow Jones Industrial Average was up almost 907 points,

The stock market surged on Friday as rumors swirled about Federal Reserve Chair Jerome Powell cutting interest rates. The Dow Jones Industrial Average rose 846 points to a new record, the S&P 500 jumped 1.

Jerome Powell just concluded his much-anticipated speech at the Jackson Hole economic conference, and the reactions are strong. Holding a very nuanced approach, as we're used to from Powell, markets still interpreted some of his wording as a slightly dovish opening.

Wall Street's main indexes ended higher on Friday, with the blue-chip Dow hitting a record closing high, as investors piled into stocks after U.S. Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech.

U.S. stock futures rose on Friday following Thursday's declines. Futures of major benchmark indices were higher.

The Dow Jones Industrial Average fell 0.3%, or around 120 points, pulled down by sinking Walmart shares. The 30-stock index was off its lows but remained below the 45,000 level. The S&P 500 gave up 0.3% and tested its 21-day exponential moving average. The S&P 500 is on pace for five straight losing sessions.