Latest news on the financial markets (local time):
Shares surged on Wall Street, generating a 600-point gain in the Dow Jones Industrial Average, after the US Federal Reserve Chairman hinted that interest rates would rise more slowly.
The market rose slightly on Wednesday afternoon, after Federal Reserve Chairman Jerome Powell suggested the central bank consider a pause in its interest rate hike. 39, next year.
The Fed needs to raise interest rates to fight inflation, but investors are worried that it will also slow down economic growth.
Technology stocks posted some of the largest gains. Salesforce.com jumped 10.3%.
The Dow climbed 617 points, or 2.5%, to 25,366, its biggest gain in eight months.
The S & P 500 index rose 61 points, or 2.3%, to 2,743.
The Nasdaq composite climbed 208 points, or 2.9%, to 7,291.
The shares rise sharply after Federal Reserve Chairman Jerome Powell has suggested the central bank consider a break in raising its interest rates next year.
Powell, in a speech Wednesday in New York, said interest rates seemed to be just below the level the Fed calls "neutral," where they neither stimulate nor slow growth. In October, he said rates were still well below neutral.
The prospect of a slower rate hike has been well received on Wall Street.
The Dow Jones Industrial Average Index jumped 497 points, or 2%, to 25,245 in the afternoon session. He more than doubled his earnings after Powell's statements.
The S & P 500 index rose 47 points, or 1.8%, to reach 2,729.
The Nasdaq composite climbed 157 points, or 2.2%, to 7,240.
US stock indexes are up while the software maker Salesforce is leading a recovery in technology companies.
Salesforce jumped 4.3% Wednesday in mid-day trading after announcing earnings well above analysts' expectations.
Health care stocks were also higher. UnitedHealth Group grew by 2.6%.
Tiffany fell 12.1% after the jewelry salesman said Chinese tourists cut spending in the last quarter.
The S & P 500 index rose 10 points, or 0.4%, to 2,692.
The Dow Jones Industrial Average rose 192 points, or 0.8%, to 24,939. The Nasdaq composite climbed 32 points, or 0.4%, to 7,113.
Bond prices have fallen. The 10-year Treasury Note yield was 3.07%.
Inventories are opening up on Wall Street, driven by solid gains from leading technology and healthcare companies.
Apple added 1.2% in early trading on Wednesday and the health insurer UnitedHealth Group grew by 1.8%.
Salesforce.com software maker jumped 6.5% after posting a sizeable profit.
Tiffany plunged 9.5% after saying that Chinese tourists spend less in their stores.
The S & P 500 index rose 12 points, or 0.5%, to 2,695.
The Dow Jones Industrial Average index rose 165 points, or 0.7%, to 24,905. The Nasdaq composite climbed 46 points, or 0.7%, to 7,128.
Bond prices have fallen. The 10-year Treasury Note yield was 3.06%.