Dow Jones: Points and Benchmarks Fare

dow jones: The Dow Jones Industrial Average DJIA, -0.13% rose 249.17 points, or 0.9%, to 26,753.17, coming about 75 points short of its record set on Oct. 3, according to Market Watch. The Nasdaq Composite Index COMP, -0.24% climbed 64.02 points, or 0.8%, to 8,051.34, the first time it finished above 8,000 since May 6. How did benchmarks fare The S&P 500 index SPX, -0.13% added 27.72 points, or 1%, to 2,954.18, after earlier touching a new intraday peak of 2,958.06. What drove the market Markets rallied after Federal Reserve Chairman Jerome Powell on Wednesday signaled that the central bank may cut benchmark interest rates, currently at a range of 2.25%-2.50%, in the coming weeks if the economic outlook buffeted by U.S.-China trade tensions doesn't show signs of improvement. Policy makers kept rates unchanged as expected but removed the word patient from its updated policy statement, suggesting that it is ready to act soon. The case for somewhat more accommodative policy has strengthened, Powell said at a news conference to discuss the rate-setting Federal Open Market Committee's highly anticipated decision. (news.financializer.com). As reported in the news.