Dow Extends Rally, Waits on a Big Speech

Fed chief to discuss interest rates on Friday
By Newser Editors and Wire Services
Posted Aug 25, 2022 3:37 PM CDT
Dow Extends Rally, Waits on a Big Speech
An NYSE sign is seen on the floor at the New York Stock Exchange.   (AP Photo/Seth Wenig, File)

Stocks closed higher on Wall Street Thursday, clawing back more of their recent losses, as the countdown clicks closer to zero for a highly anticipated speech about interest rates. Stocks have wavered between gains and losses since tumbling Monday to their worst day in months, as traders hold off on making big moves overall. Wall Street’s focus is on an economic summit at Jackson Hole, Wyoming, which has been the setting for market-defining announcements by the Federal Reserve in past years. The Fed’s chair, Jerome Powell, is scheduled to speak Friday morning, per the AP.

  • The benchmark S&P 500 rose 58.35 points, or 1.4%, to 4,199.12.
  • The Dow Jones Industrial Average rose 322.55 points, or 1%, to 33,291.78.
  • The Nasdaq rose 207.74 points, or 1.7%, to 12,639.27.
(More stock market stories.)

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