How major US stock indexes fared Monday 12/12/2022
Stocks closed higher on Wall Street at the start of a busy week when central banks are likely to unload the year’s final barrage of interest rate hikes. The S&P 500 rallied 1.4% Monday.
On Wednesday, markets expect the Federal Reserve to announce a more modest increase to rates than it has been pushing through recently. Other central banks around the world are also expected to raise rates by half a percentage point this week, including Europe’s.
Higher rates slow the economy and risk causing a recession if they go too high, all while dragging down prices of investments.
The S&P 500 rose 56.18 points, or 1.4%, to 3,990.56.
The Dow Jones Industrial Average rose 528.58 points, or 1.6%, to 34,005.04.
The Nasdaq rose 139.12 points, or 1.3%, to 11,143.74.
The Russell 2000 index of smaller companies rose 21.95 points, or 1.2%, to 1,818.61.
For the year:
The S&P 500 is down 775.62 points, or 16.3%.
The Dow is down 2,333.26 points, or 6.4%.
The Nasdaq is down 4,501.23 points, or 28.8%.
The Russell 2000 is down 426.70 points, or 19%.
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