A blistering cross-asset rally drove the Dow Jones Industrial Average to close at an all-time high for the first time since December as the staid blue-chip gauge finally caught up to the riskier corners of the stock market.

Berkshire Hathaway and the Dow Jones Industrial Average have some overlap on stocks that are held in both investment portfolios.

The Dow Jones Industrial Average rose 846.24 points, or 1.89%, to 45,631.74, surpassing its most recent record close on December 4, 2024. The S&P 500 gained 96.74 points, or 1.52%, to 6,466.91 and the Nasdaq Composite gained 396.

Dow ETFs vary widely, giving investors choices between stability, income generation or leverage keyed to the index.

The prospect of interest-rate cuts sparked broad gains in stocks.

The Dow Jones Industrial Average was on track for its first record close since December on Friday after Federal Reserve Chair Jerome Powell opened the door to a September rate cut, sparking a broad stock-market rally.

If the S&P 500 breaks below 6,200, that's a sign the stock market may be headed for a more serious decline, Bank of America said.

The Dow Jones Industrial Average and other major stock indexes traded higher Friday as Wall Street braced for a critical monetary policy speech from Federal Reserve Chairman Jerome Powell. Meanwhile,

U.S. stocks were rallying midday Friday on Federal Reserve Chair Jerome Powell’s Jackson Hole speech, as traders seemed more optimistic that the Fed may cut interest rates next month. The Dow Jones Industrial Average was up almost 907 points,