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Wall Street Rallies

U.S. stocks surged Wednesday after Federal Reserve Chairman Jerome Powell suggests an interest rate increase next month could be lower than in previous months amid signs of cooling inflation.

  • The Dow Jones Industrial Average closed more than 20% above its September low.
  • The Dow slid into a bear market in September, its first since the pandemic-related selloff in early 2020, but the index has been on a climb since October, with some analysts says it the U.S. economy is now in a bull market.
  • Last month, the Dow rallied 14%, marking its biggest monthly gain since January 1976.
  • A recent round of good corporate earnings reports have almost improved the markets.
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