Following Jerome Powell’s dovish comments at the Jackson Hole Symposium, U.S. stocks rallied in anticipation of a rate cut by the Federal Reserve in September. All major indexes rose, driven by gains in megacap stocks and regional banks. Powell’s remarks indicated a shift towards multiple rate cuts, boosting investor sentiment.
Positive Breakout: These 7 stocks cross above their 200 DMAs
In the Nifty500 pack, seven stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on July 22, according to stockedge.com’s technical scan data.