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(Reuters) – US stocks rose on Wednesday after Federal Reserve Chairman Jerome Powell said gradual interest rate hikes were intended to balance risk while trying to keep the economy on track .
At 12:01 pm EDT, the Dow Jones Industrial Average was up 303.60 points, or 1.23%, to 25,052.33, the S & P 500 up 23.41 points, or 0.87% at 2,705.58 and Nasdaq Composite up 64.15 points, or 0.91%. at 7,146.85.
A few minutes before the speech, the Dow Jones Industrial Average was up 186.35 points, or 0.75%, to 24 935.08%, the S & P 500 up 9.76 points, or 0.36 %, at 2,691.93% and Nasdaq Composite up 28.90 points, or 0.41%. at 7,111.60.
(Report by Amy Caren Daniel in Bengaluru, edited by Arun Koyyur)
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