How Major US Stock Indexes Fared Wednesday Aug. 24, 2022

(Tony Stock/Shutterstock)

Stocks closed modestly higher as Wall Street recovered some of this week’s steep losses ahead of a highly anticipated speech by the Federal Reserve chair later this week.

The S&P 500 ended 0.3 percent higher Wednesday. The Dow Jones Industrial Average and Nasdaq also inched higher. Trading has been quiet the last two days ahead of a speech on Friday by Jerome Powell. Investors hope he’ll offer clarity about where interest rates are heading.

Treasury yields rose after a report showed orders for long-lasting goods were stronger in July than expected, excluding transportation.

On Wednesday (Aug. 24):

• The S&P 500 rose 12.04 points, or 0.3 percent, to 4,140.77.
• The Dow Jones Industrial Average rose 59.64 points, or 0.2 percent, to 32,969.23.
• The Nasdaq gained 50.23 points, or 0.4 percent, to 12,431.53.
• The Russell 2000 index of smaller companies rose 16.14 points, or 0.8 percent, to 1,935.29.

For the week:

• The S&P 500 is down 87.71 points, or 2.1 percent.
• The Dow is down 737.51 points, or 2.2 percent.
• The Nasdaq is down 273.69 points, or 2.2 percent.
• The Russell 2000 is down 22.06 points, or 1.1 percent.

For the year:

• The S&P 500 is down 625.41 points, or 13.1 percent.
• The Dow is down 3,369.07 points, or 9.3 percent.
• The Nasdaq is down 3,213.44 points, or 20.5 percent.
• The Russell 2000 is down 310.03 points, or 13.8 percent.

The Epoch Times Copyright © 2022 The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.