Builders FirstSource and other home building stocks jump as Federal Reserve Chairman Jerome Powell signals interest-rate cuts could be coming.

Japan’s SoftBank agreed to invest $2 billion in Intel, boosting the U.S. chip maker’s stock. On Monday, Intel announced SoftBank’s purchase of roughly 87 million shares at $23 each, a slight discount to the day’s $23.66 closing price.

Here are some of the stories Wall Street is watching on Friday, Aug. 22. Stocks and cryptocurrencies surged after Fed Chair Jerome Powell hinted that rate cuts could be on the way in his Jackson Hole speech.

Chinese equities are surging. The Shanghai Composite Index — dominated by retail investors — is up about 13% this year.

The Nasdaq composite has fallen around 2% over the past two days.

With defense spending and uncertainty rising, the demand for products from General Dynamics, Northrop Grumman, and others is only likely to grow, providing a continued boost to their stocks.

Trump's marijuana rescheduling remarks reignite cannabis optimism, putting Village Farms, Canopy Growth and High Tide in focus.

The iShares U.S. Home Construction ETF was rallying 5.1% toward an eight-month high in recent trading, with all 46 of its equity components gaining ground. The ETF has now soared 26% amid a three-month winning streak.