S&P 500, Nasdaq End Week at Record Highs as Powell Signals Slow Tightening Ahead By Investing.com
By Yasin Ebrahim Investing.com – The S&P 500 and Nasdaq closed at record highs Friday, as Federal Reserve Chairman Jerome Powell signaled the taper is likely to be gradual, and rate hikes aren't likely to follow soon after as the economy still has a lot of ground to cover. The S&P 500 rose 0.9%, to remain close to its earlier intraday record of 4,512.03. The Dow Jones Industrial Average gained 0.69%, or 242 points, the Nasdaq climbed 1.2%, after hitting an intraday record of 15,136.8. The Fed chief said he had backed plans at the July...
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