Trump ratcheted up his pressure campaign this week, calling on Fed Governor Lisa Cook to resign after a Trump administration official alleged that she had committed mortgage fraud. Cook rebuked the push for her to quit, saying she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.”

Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.

Wall Street's main indexes ended higher on Friday, with the blue-chip Dow hitting a record closing high, as investors piled into stocks after U.S. Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech.

Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.

Stocks closed lower Wednesday, led by a continued technology sector sell-off, as investors brace for a big speech later in the week by Federal Reserve Chair Jerome Powell.

The Cboe Volatility Index (VIX) fell to its lowest level of the year on Friday, as US stocks surged following a highly-anticipated speech from Federal Reserve Chairman Jerome Powell that bolstered the case for a September interest-rate cut.