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Stocks opened modestly higher Wednesday after Federal Reserve Chairman Jerome Powell, in testimony prepared for delivery to a congressional panel, said the central bank still expects inflation pressures to be transitory and signaled the central bank wasn’t in a rush to begin reining in its stimulus efforts. The Dow Jones Industrial Average rose 148 points, or 0.4%, to 35,037, while the S&P 500 was up 0.5% at 4,392 and the Nasdaq Composite advanced 0.8% to 14,789.
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