While not committing to action, Fed Chair Powell signaled a shift in monetary policy. Nvidia’s earnings release on Wednesday evening will be the crucial data of the week.

Now that Federal Reserve Chair Jerome Powell has signaled that the central bank could soon cut its key interest rate, he faces a new challenge: how to do it without seeming to cave to the White House’s demands.

The Dow logged its first record close of the year and bond yields fell after Federal Reserve Chair Jerome Powell struck an upbeat tone on a September interest-rate cut.