Fed chair Powell said he plans to propose a quarter-point rate increase in two weeks. The Dow is up more than 500 points.
, as investors watched for updates from Ukraine and parsed testimony on the Federal Reserve’s plans to raise interest rates..
The Dow Jones Industrial Average gained 541 points, or 1.6%, and the technology-focused Nasdaq Composite Index added 1%. The advances were broad-based, with all 11 of the S&P 500’s sectors rising, 10 of them by more than 1%.
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