How major US stock indexes fared Wednesday
The Associated Press
Stocks closed higher on Wall Street Wednesday after the latest report of surging prices appeared to keep the Federal Reserve on track to raise interest rates later this year. The S&P 500, the Dow Jones Industrial Average and the Nasdaq rose. Technology stocks led the market higher. Inflation jumped 7% last month, its fastest year-over-year pace in nearly four decades, but in line with economists’ forecasts. Fed Chair Jerome Powell told Congress Tuesday the Fed stands ready to raise rates to fight inflation.
