The Dow Jones Industrial Average surged to a new intraday and closing record high on August 22, 2025, driven by investor optimism over potential interest rate cuts. The index soared as much as 900 points during the trading session and closed with a gain exceeding 800 points, with some reports noting a rise of 846 points. The rally was sparked by comments from Federal Reserve Chair Jerome Powell, which fueled market hopes for a reduction in interest rates. This positive sentiment lifted Wall Street broadly, reflecting expectations of a more accommodative monetary policy stance.