Stock Market Edges Higher as Powell Testifies to Congress

U.S. stocks rose Wednesday after Federal Reserve Chairman Jerome Powell acknowledged the possibility of a recession while discussing the central bank’s efforts to address inflation.

The S&P 500 gained 0.6%, while the Dow Jones Industrial Average added 0.4%, or about 121 points. The tech-heavy Nasdaq Composite advanced 0.7%. All three indexes were down in early morning trading Wednesday before turning higher.

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