More stocks are participating in the S&P 500’s latest march to record highs, easing concerns over a rally that has been concentrated in a handful of giant technology names for much of 2024.

"Overall, the economy is in solid shape," Powell said in his prepared remarks on Monday. "We intend to use our tools to keep it there."

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy

U.S. stocks were poised to close out a solid quarter on a down note, edging lower after Fed Chair Jerome Powell suggested the central bank would likely refrain from extra-large interest-rate cuts if the economy evolves as expected.

Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline, though their size and speed would depend on the evolution of the economy. Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point cut made earlier this month with another hefty reduction at either of its upcoming meetings in November or December.

Americans are barreling toward election day but they remain split on whether Donald Trump or Kamala Harris would make a better steward of the U.S. economy, according to recent polls and prediction markets.

Trump's new plan is centered on corporate tax cuts for companies manufacturing in the U.S., tarrifs for those who don't and deportations of illegal immigrants.