Dow jumps 265 points after Powell’s inflation forecast

  • Dow jumps 265 points after Powell's inflation forecast

    All three of the major averages closed higher in what was a choppy session after Federal Reserve Chairman Jerome Powell noted disinflationary trends are emerging, yet the economy still has a long way to go. Energy and communication stocks paced the gains, while the more defensive companies, including consumer staples and utilities, trailed. In commodities, oil soared over 4% to $77.14 per share.

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