Federal Signal Corporation shares rise 3.19% intraday as Powell's rate cut signal boosts market sentiment.

Federal Signal Corporation rose 3.19% intraday, with the stock's movement aligning with the positive sentiment from US Federal Reserve Chair Jerome Powell's comments at the Jackson Hole central bank conference. Powell's remarks opened the door to an imminent interest rate cut, which provided momentum to the New York stock exchanges, propelling the Dow Jones Industrial Average to record highs.