US Federal Reserve

US Federal Reserve Chairman Powell's speech became a weather vane for US stocks. He released “dovish” information. Interest rate hikes may slow down in September. US stocks reacted positively. The Dow Jones index closed on Friday and rose 247 points.

After the US stock Dow opened 117 points higher, the increase widened to over 250 points. After Powell's speech, the Dow once again fell 70 points to a low of 3,4029 points, but soon recovered its lost ground and turned up. The rise in the last segment expanded to 342 points, reaching a high of 34,441 points.

At the close of the US market, the Dow rose 247 points, or 0.73%, to 34,346 points; the index rose 0.67% to 4,405 points; the NASDAQ rose 0.94% to 13,590 points; and the Golden Dragon Index, which reflects the performance of Chinese concept stocks, rebounded 0.03%. Boeing's stock price rose 2.8%; Nvidia (Nvidia) once fell 4.5%, and the closing decline narrowed to 2.4%.