S&P Snaps 4-Session Slump - InvestingChannel

S&P Snaps 4-Session Slump

Stocks closed higher amid volatile trading Thursday as investors remained concerned about the path of the Federal Reserve’s rate hikes.

The Dow Jones Industrials recovered 108.82 points to finish off Thursday at 33,153.91.

The S&P 500 finally gained 21.27 points to 4,012.32.

The NASDAQ Composite restocked 83.33 points to 11,590.40.

The major averages are still on pace to end the week on a downturn, with the S&P 500 on track for its worst weekly performance since Dec. 16.

The Fed has been a focal point for investors this week since the rollout of its latest meeting minutes. Policymakers indicated that inflation “remained well above” the central bank’s 2% target, even as data has shown “a welcome reduction in the monthly pace of price increases.”

Prices for the 10-year Treasury eked up, lowering yields to 3.89% from Wednesday’s 3.92%. Treasury prices and yields move in opposite directions.

Oil prices gained $1.62 to $75.57 U.S. a barrel.

Gold prices got punished $11.60 to $1,829.90 U.S. an ounce.

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