U.S. stocks closed higher on Thursday, shrugging off early losses as words from Atlanta Fed President Raphael Bostic appeared to help lift stocks in afternoon trading. The Dow Jones Industrial Average gained 341.73 points, or 1.1%, to close at 33,003.57:
U.S. stocks closed higher on Thursday, shrugging off early losses as commentary from Atlanta Fed President Raphael Bostic appeared to help lift stocks in afternoon trading. The S&P 500 SPX, +0.76% gained 29.96 points, or 0.8%, to 3,981.35, according to preliminary data from FactSet. The Dow Jones Industrial Average DJIA, +1.05% gained 341.73 points, or 1.1%, to close at 33,003.57.
The Nasdaq Composite COMP, +0.73% rose by 83.50 points, or 0.7%, to finish at 11,462.98. Atlanta Fed President Raphael Bostic on Thursday said he was firmly in support of a 25 basis point rate increase at the Fed’s late-March policy meeting, and that the central bank could be in a position to pause rate hikes by the summer. The market suffered earlier as the yield on the 10-year Treasury note moved meaningfully above 4%.
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