How Major US Stock Indexes Fared Wednesday Aug. 24, 2022
Stocks closed modestly higher as Wall Street recovered some of this week’s steep losses ahead of a highly anticipated speech by the Federal Reserve chair later this week.
The S&P 500 ended 0.3 percent higher Wednesday. The Dow Jones Industrial Average and Nasdaq also inched higher. Trading has been quiet the last two days ahead of a speech on Friday by Jerome Powell. Investors hope he’ll offer clarity about where interest rates are heading.
Treasury yields rose after a report showed orders for long-lasting goods were stronger in July than expected, excluding transportation.
On Wednesday (Aug. 24):
The S&P 500 rose 12.04 points, or 0.3 percent, to 4,140.77.
The Dow Jones Industrial Average rose 59.64 points, or 0.2 percent, to 32,969.23.
The Nasdaq gained 50.23 points, or 0.4 percent, to 12,431.53.
The Russell 2000 index of smaller companies rose 16.14 points, or 0.8 percent, to 1,935.29.
For the week:…