The First Slice for Thursday, December 1, 2022

U.S. stocks finished sharply higher on Wednesday, with the Dow Jones Industrial Average rising over 700 points to technically exit a bear market after Federal Reserve Chairman Powell said the central bank’s pace of interest-rate increases can slow as soon as its December meeting.

  • The Dow gained +737.24 or +2.18%
  • The S&P 500 finished higher at +122.48 or +3.09%
  • The Nasdaq advanced +484.22 or +4.41%

U.S. equities closed out the month on a positive note as traders assessed a speech by Federal Reserve Chairman Jay Powell which indicated the central bank may decide to raise interest rates at a slower pace at its next policy meeting.

Stocks rallied after Powell’s speech with the S&P 500 index erasing all of the declines in the previous two sessions. The index also closed above its 200-day moving average for the first time since April 2022……Click here to read the source article[read more]

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