Stocks are ending higher on Wall Street Tuesday, clawing back some of the ground they lost last week in their worst weekly drop since the beginning of the pandemic.
The S&P 500 rose 2.4%. It’s still 21.5% below the record high it set in January. The tech-heavy Nasdaq climbed 2.5% and the Dow Jones Industrial Average added 2.1%.
Markets will be closely watching congressional testimony this week from Federal Reserve Chair Jerome Powell for more clues about the Fed’s thinking about inflation and future interest rate hikes.
The S&P 500 rose 89.95 points, or 2.4%, to 3,764.79.
The Dow Jones Industrial Average rose 641.47 points, or 2.1%, to 30,530.25.
The Nasdaq rose 270.95 points, or 2.5%, to 11,069.30.
The Russell 2000 index of smaller companies rose 28.34 points, or 1.7%, to 1,694.03.
For the year:
The S&P 500 is down 1,001.39 points, or 21%.
The Dow is down 5,808.05 points, or 16%.
The Nasdaq is down 4,575.67 points, or 29.2%.
The Russell 2000 is down 551.28 points, or 24.6%.