Dow Jumps 100 Points After Yellen Sees 'Strengthened Case' for Rate Hike

August 26, 2016 2:08 PM

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Dow Jumps 100 Points After Yellen Sees 'Strengthened Case' for Rate Hike

The case for raising the short-term interest rate "has strengthened in recent months," said Federal Reserve Chair Janet Yellen at Friday's much-anticipated Kansas City Fed economic symposium in Jackson Hole, Wyoming.

Following the news, the Dow Jones industrial average jumped by 102 points, the S&P 500 gained 14 points, and the Nasdaq rose to 5,251.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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