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Hey listeners, it's Saturday, August 24th. I'm Jack Pitcher for the Wall Street Journal

and this is what's news and markets.

Our look at the biggest stock moves of the week and the news that drove them.

Let's get to it.

Markets were on a roll again this week.

The turmoil we saw earlier this month, investors have all but forgotten about it.

After recent data helped reassure investors that the U.S. economy is not on the brink of recession,

the Federal Reserve took another step toward delivering the

Goldilac scenario they've been hoping for.

In a speech at the annual Jackson Hole Conference on Friday morning, Fed Chair Jerome Powell

declared that the time has come for rate cuts.

It was his strongest signal yet that the Fed will slash interest rates at next month's meeting.

Friday's speech suggested that the Fed had seen enough data to be confident that inflation is coming

under control.

Powell said that the labor market has cooled, and the Fed doesn't want it to cool further.

Investors cheered the news that borrowing costs should drop soon, sending the S&P 500 up to trade near a record.

Each of the three major index is built upon their biggest gains of the year posted last week.

The S&P 500 gained 1.5% this week, while the Dow Jones Industrial

...