U.S. stocks turn higher in volatile session as Wall Street weighs Powell’s comments on more rate hikes
One analyst said stocks are rebounding after falling into ‘oversold’ territory.
U.S. stocks moved between gains and losses on Thursday afternoon as Wall Street assessed Federal Reserve Chair Jerome Powell’s comments that the central bank moves strongly to bring inflation down.
U.S. stocks snapped a lengthy losing streak on Wednesday, with the Dow Jones Industrial Average rising 436 points, or 1.4%, to 31581, the S&P 500 advancing 72 points, or 1.83%, to 3980, and the Nasdaq Composite gaining 247 points, or 2.14%, to 11792. For the Nasdaq, the 7-day losing streak was its longest since 2016.
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