US equities ended the week with broad gains after Federal Reserve Chair Jerome Powell's speech at the Kansas City Fed's Jackson Hole symposium reinforced investor expectations of an interest-rate cut in September. The rally spanned technology and consumer stocks.

Powell, speaking on Friday in Wyoming, acknowledged cooling in the labour market while noting that tariff-driven inflation had proved less persistent than some officials feared. Investors interpreted his tone as opening the door to easing at the Federal Open Market Committee's next meeting.

The move capped an earnings-heavy stretch in which retailers including Walmart and Home Depot posted stronger-than-expected quarterly results, supporting the view that American consumers remain resilient despite elevated prices. Traders in interest-rate futures priced in a high probability of a quarter-point reduction.

Analysts at Goldman Sachs and Morgan Stanley cautioned that a September cut is not guaranteed, pointing to the August jobs report and the next inflation reading as decisive data. Bond yields eased and the dollar weakened against major currencies.

Federal Reserve officials declined to elaborate beyond Powell's prepared remarks. Market strategists said attention would now turn to Nvidia's results and the Commerce Department's personal consumption expenditures data due later in the month.