Power Breakfast: Dow Jones Jumps 1%, Nasdaq 2% As Fed Remarks Calm Higher-For-Longer Rate Woes

There was a big rally in the US market on Friday. The Dow jumped 390 points to close at day's high. Whereas, the S&P 500 rose 1.6% and the Nasdaq climbed 2%. Strong contributions from all sectors led the Russell 2000 to rise 1.3%. The 10-year bond yield is stable below 4%. In addition, concerns about the pace of the Fed's rate hike eased.