The major US stock indices are closing higher for the 2nd consecutive day. The gains are fairly consistent in the indices with gains between 0.60% and 0.66%
Price action was up and down. The major indices open lower, but rebounded higher despite chair Powell's interview with the Cato Institute where he reiterated the sentiments from his Jackson Hole Symposium.
Stocks turned back lower after ECB sources comments that a 75 basis point hike is not ruled out for October. Today the central bank increased rates by 75 basis points the largest increase since the start of the common currency.
Those declines were whittled away into the close.
The final numbers are showing:
- Dow industrial average up 193.24 points or 0.61% at 31774.51
- S&P index up 26.31 points or 0.66% at 4006.19
- NASDAQ index up 70.24 points or 0.60% at 11862.14
The small-cap Russell index was the biggest gainer with a 14.90 point rise or 0.1% at 1846.90
