U.S. stocks ended modestly higher Thursday – as worries about potential weakness in banking resurfaced a day after the Federal Reserve hiked rates. The Dow Jones Industrial Average rose about 73 points, or 0.2%, ending near 32,103:
U.S. stocks ended modestly higher Thursday in choppy trade as worries about potential weakness in the banking system resurfaced a day after the Federal Reserve increased hikes by 25 basis points. The Dow Jones Industrial Average DJIA, +0.23% rose about 73 points, or 0.2%, ending near 32,103, down about 400 points from the session’s high. The S&P 500 index SPX, +0.30% gained 0.3% and the Nasdaq Composite Index COMP, +1.01% closed up 1%, according to preliminary figures from FactSet.
Stocks closed off the session’s highs, but gained ground after Treasury Secretary Janet Yellen told a Senate committee that the federal government would take extra steps to stabilize the U.S. banking system, if necessary. Stocks closed sharply lower Wednesday after the Fed raised its policy rate to a range of 4.75% to 5%, up a year ago from close to zero.
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