(Reuters) – The New York Stock Exchange ended sharply higher on Wednesday after U.S. Federal Reserve Chairman Jerome Powell said the central bank is likely to raise interest rates less this month. than investors feared.
The Dow Jones index gained 1.79% to 33,891.35 points.
The broader S&P-500 gained 1.86% to 4,386.54 points.
The Nasdaq Composite advanced by 1.62% to 13,752.02 points.
Jerome Powell’s comments, made during a hearing before the House Financial Services Committee, helped ease investor concerns as Russia’s invasion of Ukraine rattled markets.
The boss of the Fed said he was rather in favor of raising the key rate by 25 basis points, a less aggressive option than some feared.
From now on, the traders estimate 95% the probability that the Fed proceeds in March with a hike of 25 basis points.
All major sectors of the S&P-500 ended in the green, with the financial sector rebounding, rising 2.6%, after two consecutive sessions of decline.
Values in the energy sector have resumed their progression, against a background of a rise in the barrel of Brent to a record in eight years, while the sanctions imposed by the West against Russia have disrupted Russian deliveries.
Apple rose 2.1% after announcing a product launch on March 8. The Apple firm is expected to present a low-cost version of its iPhone 5G.
(French version Jean Terzian)
by Devik Jain and Noel Randewich