Powell Industries, Inc. shares fall 1.12% after-hours as Powell's dovish tone on rate cuts boosts broader market.

Powell Industries, Inc. declined 1.12% in after-hours trading. The decline occurred despite positive market sentiment driven by Jerome Powell's dovish remarks at the Jackson Hole speech, which hinted at a potential rate cut in September. This led to a surge in equities and a decline in yields, but Powell Industries, Inc. did not follow the broader market trend.