India, Aug. 22 -- Stocks have moved sharply higher during trading on Friday, regaining ground after trending lower over the past several sessions. The major averages have all shown strong moves to the upside, with the Dow reaching a new record intraday high.
Currently, the major averages are just off their highs of the session. The Dow is up 869.70 points or 1.9 percent at 45,651.20, the Nasdaq is up 433.65 points or 2.1 percent at 21,533.97 and the S&P 500 is up 102.79 points or 1.6 percent at 6,472.96.
The rally on Wall Street comes in reaction to Federal Reserve Chair Jerome Powell's highly-anticipated speech before the Jackson Hole Economic Symposium.
While Powell touched only briefly on the outlook for monetary policy, his remarks h...