US stocks close at record highs after Powell eases tapering concerns during Jackson Hole speech

Xinhua/Wang Ying/ Getty ImagesUS stocks closed at record highs on Friday after Fed Chairman Jerome Powell eased investor concerns about tapering its monthly bond purchases.The S&P 500 and Nasdaq closed at record highs, while the Dow Jones soared nearly 250 points.Powell signaled that any decision on tapering its monthly bond purchases would be independent from its decision on raising interest rates.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stocks closed at r