The Dow Jones rose by more than 600 points Wednesday after the chairman of the Federal Reserve said interest rates were close to neutral.
Nov. 28 (UPI) — The Dow Jones rose by more than 600 points Wednesday after the chairman of the Federal Reserve said interest rates were close to neutral, continuing a rebound for the market.
The Dow was up 617.7 points, or 2.5 percent, to 25,366.43 at the end of trading Wednesday, marking its largest single-day gain since March 26. Meanwhile the S&P 500 was up 2.3 percent and the Nasdaq Composite rose 2.95 percent. All three major indexes rose for the third consecutive day.
The day’s surge in stock prices came after Federal Reserve Chairman Jerome Powell said not to expect big hikes in interest rates in the near future.
