Mumbai, Aug. 25 -- The Dow shot up 846.24 points (1.9%) to 45,631.74, the Nasdaq surged 396.22 points (1.9%) to 21,496.53 and the S&P 500 jumped 96.74 points (1.5%) to 6,466.91.

Federal Reserve Chair Jerome Powell's remarks at the Jackson Hole Symposium boosted investor confidence that a rate cut is likely next month while he briefly addressed monetary policy, Powell highlighted that inflation has eased significantly and the labor market remains stable, allowing the Fed to move cautiously.

Powell emphasized that policy is not on a preset path but guided by data and shifting risks. Markets reacted positively, with CME Group's FedWatch Tool showing an 83.1% probability of a quarter-point rate cut in September, with sectors like home const...