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President Donald Trump sent the U.S. stock market on a jagged
round trip after saying he had “talked about the concept of
firing” the head of the Federal Reserve.
The S&P 500 added 0.3% Wednesday after whipping through an
earlier drop and subsequent recovery.
The Dow Jones Industrial Average rose 0.5%, and the Nasdaq
composite gained 0.3%. Trump said he’s unlikely to fire Fed
Chair Jerome Powell.
Such a move could help Wall Street get the lower interest rates
that investors love, but it would also raise the risk of a
weakened Fed less able to make the unpopular moves needed to
keep inflation under control.
On Wednesday:
The S&P 500 rose 19.94 points, or 0.3%, to 6,263.70.
The Dow Jones Industrial Average rose 231.49 points, or 0.5%, to
44,254.78.
The Nasdaq composite rose 52.69 points, or 0.3%, to 20,730.49.
The Russell 2000 index of smaller companies rose 21.93 points,
or 1%, to 2,226.98.
For the week:
The S&P 500 is up 3.95 points, or 0.1%.
The Dow is down 116.73 points, or 0.3%.
The Nasdaq is up 144.96 points, or 0.7%.
The Russell 2000 is down 7.84 points, or 0.4%.
For the year:
The S&P 500 is up 382.07 points, or 6.5%.
The Dow is up 1,710.56 points, or 4%.
The Nasdaq is up 1,419.70 points, or 7.4%.
The Russell 2000 is down 3.17 points, or 0.1%.
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