The Dow Jones Industrial Average was on track for its first record close since December on Friday after Federal Reserve Chair Jerome Powell opened the door to a September rate cut, sparking a broad stock-market rally.

The Dow Jones soared to an all-time Friday on increased hopes of a rate cut at the September Federal Reserve meeting.

A blistering cross-asset rally drove the Dow Jones Industrial Average to close at an all-time high for the first time since December as the staid blue-chip gauge finally caught up to the riskier corners of the stock market.

The prospect of interest-rate cuts sparked broad gains in stocks.

Bitcoin, the Dow Jones and the S&P 500 are surging as Federal Reserve Chair Jerome Powell suggests rate cuts are likely.

Some of the highest-yielding stocks in the Dow Jones Industrial Average index look like smart buys for income-seeking investors.