Stocks are ending higher on Wall Street Tuesday, clawing back some of the ground they lost last week in their worst weekly drop since the beginning of the pandemic.
The S&P 500 rose 2.4%. It’s still 21.5% below the record high it set in January. The tech-heavy Nasdaq climbed 2.5% and the Dow Jones Industrial Average added 2.1%.
Markets will be closely watching congressional testimony this week from Federal Reserve Chair Jerome Powell for more clues about the Fed’s thinking about inflation and future interest rate hikes.
On Tuesday:
The S&P 500 rose 89.95 points, or 2.4%, to 3,764.79.
The Dow Jones Industrial Average rose 641.47 points, or 2.1%, to 30,530.25.
The Nasdaq rose 270.95 points, or 2.5%, to 11,069.30.
The Russell 2000 index of smaller companies rose 28.34 points, or 1.7%, to 1,694.03.
For the year:
The S&P 500 is down 1,001.39 points, or 21%.
The Dow is down 5,808.05 points, or 16%.
The Nasdaq is down 4,575.67 points, or 29.2%.
The Russell 2000 is down 551.28 points, or 24.6%.