A blistering cross-asset rally drove the Dow Jones Industrial Average to close at an all-time high for the first time since December as the staid blue-chip gauge finally caught up to the riskier corners of the stock market.

In his Jackson Hole speech, Fed Chair Jerome Powell opened the door to more rate cuts, sending stocks surging. All three of the major indexes (^DJI, ^GSPC, ^IXIC) closed higher, with the Dow Jones Industrial Average adding 846 points and closing at a fresh record high.