The stock market saw a significant surge on Friday following a dovish statement by Federal Reserve Chair Jerome Powell at Jackson Hole. Powell indicated readiness to adjust policy, hinting at possible interest rate cuts in response to weakening labor market conditions. He also showed leniency towards inflation risks from trade tariffs, expecting one-time price hikes rather than sustained inflation. The S&P 500 witnessed gains across all sectors, particularly in consumer discretionary, real estate, industrials, and materials, each recording over a 2% increase. The Dow Jones Industrial Average climbed 2%, reaching a new all-time high above 45,680. The S&P 500 ended the day up 1.4%.