Ignoring Powell's slightly hawkish stance, the S&P rallied at the close to end the year with a market cap of $25 trillion

Despite Federal Reserve Chairman Powell hinting that he is not in a hurry to further cut interest rates, the U.S. stock market still squeezed out a rebound in the final trading session. Powell stated that the central bank will "take its time" to lower interest rates, but also reiterated that the overall economy remains fundamentally sound. The S&P 500 Index closed with a market value increase of over $2.5 trillion in the third quarter, ignoring the cautious stance of the Federal Reserve Chairman. Despite showing weakness earlier in the day, the S&P 500 Index achieved its fourth consecutive quarterly gain, setting a record for the longest quarterly gain since 2021. The tech-heavy Nasdaq 100 Index also saw a similar market performance. (Bloomberg)