Dow closes higher as hope grows that Fed is done raising rates
(Pixabay)
(CNBC) -- Stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.
The Dow Jones Industrial Average added 83.51 points, or 0.24%, to close at 35,416.98. The S&P 500 inched higher by 0.10% to 4,554.89, and the tech-heavy Nasdaq Composite gained 0.29% to end the session at 14,281.76.
Fed Governor Christopher Waller had expressed confidence earlier Tuesday that policy is “currently well positioned” to slow the economy and bring inflation back to 2%. His commentary comes ahead of the Federal Open Market Committee’s policy meeting on Dec. 12-13. Markets generally expect the committee to keep its key lending rate steady.
The post Dow closes higher as hope grows that Fed is done raising rates appeared first on WND.