04:38 PM EDT, 08/23/2024 (MT Newswires) -- US equity indexes rose this week, with real estate leading the gainers, as investors expect the Federal Reserve will begin easing policy in September after Chair Jerome Powell said soft employment is now more concerning than inflation.

* The Dow Jones Industrial Average ended at 41,175.08 on Friday, up from 40,659.76 a week ago. The Nasdaq Composite closed at 17,877.89, versus 17,631.72 a week prior. The S&P 500 closed at 5,634.61, compared with 5,554.25 a week earlier. Real estate was the biggest gainer Friday, this week, and this month.

* Powell said at the Jackson Hole symposium Friday that "the time has come for policy to adjust," noting that the data will determine the timing and pace of rate cuts and suggesting that the balance of risks shifted.

* "Overall, the economy continues to grow at a solid pace," Powell added. "But the inflation and labor market data show an evolving situation. The upside risks to inflation have diminished. And the downside risks to employment have increased."

* The CBOE Volatility Index (VIX), known as the fear gauge, sank 9.5% late Friday. But, over a week, it is heading for a gain, a potential cause of concern for investors if the march higher continues.

* The US 10-year yield fell by 5.7 basis points to 3.81% late Friday, heading for a weekly decline. The two-year yield slumped 9.7 basis points to 3.91%, down from a week earlier.

* The probability of a 25 basis-point interest-rate cut stood at 68% as of late Friday afternoon versus 76% a day ago, according to the CME Group's FedWatch Tool. The remaining 32% likelihood was for a 50 basis-point reduction, up from 24% a day earlier.

* The call for a supersized 50-basis point cut in September is growing louder, Nigel Green, CEO of DeVere Group, said in a note. "The truth is, the Fed was too slow to act when this cycle began. A small cut might signal a shift, but it won't deliver the jolt needed to prevent a potential hard landing."