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Stock market news today: Stocks rise as investors bet on end to Fed hikes

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Investors are betting the Fed is done with its rate-hiking campaign, taking heart from Chair Jerome Powell's comments.

Stocks climbed on Thursday as investors bet the Federal Reserve is close to wrapping up its rate-hiking campaign and assessed a fresh stream of corporate results.from Chair Jerome Powell's comments on the decision is that the US central bank will stick with keeping rates unchanged in December.

The tech-heavy Nasdaq, which has lagged in the past when investors fear of rate hike spike, soared more than 1.2%. The S&P 500 (The major US stock indexes were poised Thursday to extend the previous day's gains as investors assessed Federal Reserve' Chair Jerome Powell's comments after the central bank's decision to hold interest rates steady.

 

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