US stock markets ended the day higher on Wednesday after the latest report on the surge in prices appears to keep the Federal Reserve on track to raise interest rates later this year.
Major Wall Street indices – S&P 500, Dow Jones Industrial Average and Nasdaq – surged as tech stocks led the market higher. Inflation jumped 7% last month, its fastest annual pace in nearly four decades, but in line with economists’ forecasts. Fed Chairman Jerome Powell told Congress on Tuesday that the Fed was ready to raise rates to fight inflation.
US Stock Markets Wednesday:
The S&P 500 gained 13.28 points, or 0.3%, to 4,726.35.
The Dow Jones Industrial Average rose 38.30 points, or 0.1%, to 36,290.32.
The Nasdaq rose 34.94 points, or 0.2%, to 15,188.39.
The Russell 2000 Small Business Index fell 17.95 points, or 0.8%, to 2,176.06.
US scholarships of the week:
The S&P 500 is up 49.32 points, or 1.1%.
The Dow Jones is up 58.66 points, or 0.2%.
The Nasdaq is up 252.49 points, or 1.7%.
The Russell 2000 is down 3.75 points, or 0.2%.
US Stock Markets for the Year:
The S&P 500 is down 39.83 points, or 0.8%.
The Dow Jones is down 47.98 points, or 0.1%.
The Nasdaq is down 456.58 points, or 2.9%.
The Russell 2000 is down 69.26 points, or 3.1%.
–With contributions from the agency