Wall Street took another sharp swing Wednesday, this time back to rally mode, as stocks and Treasury yields rose even as oil prices continued to climb.
The S&P 500 rose, putting it back in the green for the week, after Federal Reserve Chair Jerome Powell said he supports a more modest rise in interest rates this month than some investors had been fearing. Other markets were also showing less fear from the prior day. Treasury yields recovered some of their sharp losses and gold receded.
On Wednesday:
The S&P 500 rose 80.28 points, or 1.9%, to 4,386.54.
The Dow Jones Industrial Average rose 596.40 points, or 1.8%, to 33,891.35.
The Nasdaq rose 219.56 points, or 1.6%, to 13,752.02.
The Russell 2000 index of smaller companies rose 50.37 points, or 2.5%, to 2,058.87.
For the week:
The S&P 500 is up 1.89 points, or less than 0.1%.
The Dow is down 167.40 points, or 0.5%.
The Nasdaq is up 57.39 points, or 0.4%.
The Russell 2000 is up 17.94 points, or 0.9%.
For the year:
The S&P 500 is down 379.64 points, or 8%.
The Dow is down 2,446.95 points, or 6.7%.
The Nasdaq is down 1,892.95 points, or 12.1%.
The Russell 2000 is down 186.44 points, or 8.3%.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
