Powell's dovish stance leads the Philadelphia Bank Index to close at a record high for the first time since 2022, while the Dow Jones Industrial Average sets a new historical high since December of last year

This week, the S&P 500 Index rose approximately 0.1%, the Dow Jones Industrial Average rose 1.5%, the Nasdaq fell 0.5%, the Nasdaq 100 Index fell 0.9%, the semiconductor index was roughly flat, the Philadelphia Bank Index rose 3.5%, the biotechnology index rose 0.8%, and the Russell 2000 Index rose 3.1%; the Tech Giants Index fell 1.4%, the Trump Tariff Losers Index rose 2.4%, and the retail investor meme stocks index rose 6.5%.

On Friday, when Powell released dovish signals, the S&P 500 Index initially closed up 1.5%, the consumer discretionary sector rose 3.2%, the energy sector rose 2%, and the telecommunications, materials, real estate, industrial, financial, and technology sectors all rose at least 1.2%.

The Dow initially closed up over 800 points, with component stock Caterpillar rising 4%, Home Depot, Goldman Sachs, American Express, Amazon, and Nike all rising about 3%, but Walmart and VZ still fell over 1%.

The Nasdaq 100 Index initially closed up over 300 points, an increase of 1.4%, with component stocks ON Semiconductor, ODFL, Tesla, and "Bitcoin whale" Strategy (MSTR) rising over 6%, GlobalFoundries, Intel, AppLovin, and NXP Semiconductors rising at least about 4.9%, while T-Mobile, MNST, Workday, CSX, and Intuit all fell over 2%