The US stock market ended the week with growth amid Powell's statement

US stock markets ended Friday higher, reacting positively to the speech by Fed Chairman Jerome Powell. The Dow Jones Industrial Average rose 1.14%, the S&P 500 rose 1.15%, and the Nasdaq Composite rose 1.47%.

Powell announced the Fed's readiness to lower interest rates, but the timing and pace of this process will depend on a number of factors. He noted a decrease in inflation risks and an increase in employment risks, stressing that the economy continues to grow. Traders estimate the probability of a rate cut in September by 25 basis points at 70%, and by 50 bp at 30%.

Positive news also came from the real estate market: sales of new homes in the United States increased by 10.6% in July and amounted to 739 thousand year-on-year.

In the equity sector, Altria Group rose 1.2% after the dividend increase, and Intuit Inc. shares fell 6.8% after the publication of a net loss report. Workday Inc., a provider of cloud applications, increased its net profit by 1.7 times, which led to a 13% increase in capitalization. Uber Technologies rose 1.4% after announcing the launch of robotaxi in partnership with Cruise LLC. General Motors shares rose 4.5% due to the same partnership.