U.S. stocks rally as Powell says pace of rate hikes likely to slow in December

U.S. stocks rallied Wednesday afternoon after Federal Reserve Chairman Jerome Powell said the central bank could slow the pace of interest-rate hikes in December.

“The time for moderating the pace of rate increases may come as soon as the December meeting,” Powell said during a speech at the Brookings Institution. The S&P 500 SPX, +1.92% gained 15.86 points, or 0.4%, to 3,973.49. The Dow Jones Industrial Average DJIA, +1.06% advanced 17.11 points, or 0.1%, to 33,869.64. The Nasdaq Composite COMP, +3.17% gained 106.25 points, or 1%, to 11,090.03.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen