Wall Street Gains as Investors Eye Fed Chair's Speech

Wall Street's major indexes opened higher on Friday. Investors are anticipating a speech from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium for indications on the future pace of rate cuts in the U.S. economy. The Dow Jones, S&P 500, and Nasdaq Composite all posted gains at the opening bell.

Wall Street's primary indexes started the day higher on Friday as investors eagerly awaited a key speech from Federal Reserve Chair Jerome Powell. The speech, scheduled for the Jackson Hole Symposium, is expected to provide valuable insights into the trajectory of interest rate cuts in the United States' economy.

The Dow Jones Industrial Average increased by 166.3 points, or 0.41%, starting the day at 40,879.12. The S&P 500 saw a rise of 31.8 points, or 0.57%, beginning at 5,602.49. Meanwhile, the Nasdaq Composite experienced an uptick of 153.4 points, or 0.87%, opening at 17,772.727.

Investors are keen on Powell's comments, speculating that his insights could influence the financial market's direction. The decisions on rate cuts are critical as they can impact borrowing costs and economic growth across various sectors.

(With inputs from agencies.)