Stocks are closing higher on Wall Street, clawing back more of their recent losses, as the countdown clicks closer to zero for a highly anticipated speech about interest rates.
The S&P 500 rose 1.4% Thursday. Stocks have wavered between gains and losses since tumbling Monday to their worst day in months, as traders hold off on making big moves overall.
Wall Street’s focus is on an economic summit at Jackson Hole, Wyoming, which has been the setting for market-defining announcements by the Federal Reserve in past years. The Fed’s chair is scheduled to speak Friday morning.
The S&P 500 rose 58.35 points, or 1.4%, to 4,199.12.
The Dow Jones Industrial Average rose 322.55 points, or 1%, to 33,291.78.
The Nasdaq rose 207.74 points, or 1.7%, to 12,639.27.
The Russell 2000 index of smaller companies rose 29.35 points, or 1.5%, to 1,964.64.
For the week:
The S&P 500 is down 29.36 points, or 0.7%.
The Dow is down 414.96 points, or 1.2%.
The Nasdaq is down 65.95 points, or 0.5%.
The Russell 2000 is up 7.29 points, or 0.4%.
For the year:
The S&P 500 is down 567.06 points, or 11.9%.
The Dow is down 3,046.52 points, or 8.4%.
The Nasdaq is down 3,005.71 points, or 19.2%.
The Russell 2000 is down 280.68 points, or 12.5%.
Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.