Dow Closes Up Over 900, Investors Bet Fed Avoids Recession
Posted On May 5, 2022
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(New York, NY) — Wall Street closed with stocks way higher as investors digest the Federal Reserve’s interest rate hike. The central bank raised rates by a half a percentage point and stocks responded positively to the announcement. The Dow Jones Industrial Average finished the day over 900 points higher. At the closing bell, the Dow gained 932 points to 34-061. The S&P 500 grew by 124 points to 43-hundred. The Nasdaq rose by 401 points to 12-964.
Home Depot and Caterpillar saw shares rise by at least three-percent in today’s session. Bank stocks also made up ground with Citigroup and JPMorgan Chase both rising. Zoom Video was also a big gainer seeing shares jump up by over five-percent.