U.S. stocks rise after Fed chief sends strong signal on rate cuts

NEW YORK, Aug. 23 (Xinhua) -- U.S. stocks ended higher on Friday, after Federal Reserve Chair Jerome Powell sent a strong signal that interest rate cuts could be forthcoming.

The Dow Jones Industrial Average rose 462.30 points, or 1.14 percent, to 41,175.08. The S&P 500 added 63.97 points, or 1.15 percent, to 5,634.61. The Nasdaq Composite Index increased 258.44 points, or 1.47 percent, to 17,877.79.

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