S&P 500 snaps 5-session skid, Nasdaq leads stock indexes to close higher after Powell’s testimony

S&P 500 snaps 5-session skid, Nasdaq leads stock indexes to close higher after Powell's testimony

U.S. stocks ended higher Tuesday, with tech-related shares extending a bounce from the previous session, as investors appeared to take testimony by Federal Reserve Chairman Jerome Powell in stride as they looked for clues to the pace of future rate increases and other plans for tightening monetary policy in 2022.

What did major indexes do?
  • The Dow Jones Industrial Average DJIA rose 183.15 points, or 0.5%, to close at 36,252.02.
  • The S&P 500 SPX advanced 42.78 points, or 0.9%, to end at 4,713.07.
  • The Nasdaq Composite COMP jumped 210.62 points, or 1.4%, to finish at 15,153.45.

On Monday, the Dow and S&P 500 ended lower, while the Nasdaq Composite closed fractionally higher. According to Dow Jones Markets Data, the Nasdaq’s reversal from a 2.7% slide earlier was the strongest intraday reversal since Feb. 28, 2020….

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