Dow books 5th straight day of gains Thursday, stocks finish sharply higher
Stocks closed sharply higher on Thursday, a day after minutes of the Federal Reserve's meeting in early May signaled a willingness by the central bank to consider pausing rate hikes later this year if the economy shows signs of wobbling. The Dow Jones Industrial Average added about 518 points, or 1.6%, ending near 32,638. Booking its 5th straight day of gains, the Dow scored its longest streak of wins since March 18, according to Dow Jones Market Data. The S&P 500 advanced 2%, while the Nasdaq Composite Index closed up 2.7%. The Fed still looks poised to lift its policy rate in half-point increments in June and July, but a view has emerged that it could hit reassess its approach in the fall, particularly if economic growth shows signs of sputtering or the labor market starts to falter.
-Joy Wiltermuth
(END) Dow Jones Newswires
May 26, 2022 16:00 ET (20:00 GMT)
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