Stocks Surge as Powell Signals Dovish Shift

Jerome Powell shocked Wall Street with a dovish Jackson Hole speech, warning of rising risks to employment and hinting at possible rate cuts if growth keeps slowing. Markets reacted sharply: futures now price in a 91% chance of a September Fed cut, up from 71% earlier. Treasury yields and the dollar fell, while tech stocks like Coinbase, ARM, Tesla, and Intel all gained over 3%.