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Dow, S&P 500 post best daily gain in 2 months even as Fed says tapering of asset purchases coming soon

Dow, S&P 500 post best daily gain in 2 months even as Fed says tapering of asset purchases coming soon

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U.S. stock indexes closed higher Wednesday, with the S&P 500 and the Dow industrials notching their best daily gains in about two months, as Federal Reserve Chairman Jerome Powell signaled the central bank may announce a pullback of its bond purchases in November and could start to raise interest rates in 2022, with both moves largely expected by market participants. Subsiding fears around embattled Chinese property development company Evergrande, which rattled investors on Monday, also helped set a more bullish tone on Wall Street.

...read full article on Market Watch

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