U.S. stocks soar, with the Dow scoring a record high, after Fed Chair Powell suggested it was time to consider rate cuts again.

NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell's closely watched Jackson Hole speech on Friday boosted optimism in markets that the U.S. central bank is poised to ease rates, sending investors to pile into riskier assets and interest-rate-sensitive sectors.

Opendoor stock flew higher on the news as more speculative investments like Opendoor tend to do better in low interest rate environments. The effect was even larger for Opendoor, however, because the company's business model is heavily affected by interest rates. Rate cuts could help boost its bottom line.

Crypto traders had been preparing in recent days for a more-hawkish tone from Fed Chair Jerome Powell's highly anticipated speech in Jackson Hole.

Walmart earnings are in early focus before the highly anticipated start of the Federal Reserve's gathering at Jackson Hole.

By Elizabeth Howcroft PARIS (Reuters) -European stock markets fell slightly in early trading on Thursday, hovering just below recent highs, as traders avoided making big moves and waited for the Federal Reserve's three-day annual Jackson Hole symposium.

The vibes are different today. The S&P 500 has returned 60%, dividends included, since Jackson Hole three years ago. While it’s true that investors remain skeptical, they are also a lot wealthier, thanks to the AI-fueled bull market and record-high corporate earnings .​

Liquidity constraints pose a significant challenge for BTC bulls looking to engineer a steep uptrend well into the year-end.