Wall Street Opens Higher as Powell Says Rate Hikes on Track

Wall Street Opens Higher as Powell Says Rate Hikes on Track
The New York Stock Exchange (NYSE) in New York City, where markets roiled after Russia continues to attack Ukraine, in New York, on Feb. 24, 2022. Caitlin Ochs/Reuters
Reuters
Updated:

U.S. stock indexes opened higher on Wednesday after a bruising start to the week, as Federal Reserve Chair Jerome Powell signaled the central bank would start raising rates this month despite uncertainties stemming from the Ukraine crisis.

The Dow Jones Industrial Average rose 84.56 points, or 0.25 percent, at the open to 33,379.51. The S&P 500 opened higher by 16.30 points, or 0.38 percent, at 4,322.56, while the Nasdaq Composite gained 65.07 points, or 0.48 percent, to 13,597.53 at the opening bell.