US Stocks End Higher Amid Second Day of Fed Chair Powell's Congressional Testimony

Last Updated: Thursday, June 23, 2022 4:14 PM | MT Newswires

US stocks ended higher despite taking a dip into negative territory midday Thursday, with a manufacturing gauge hitting close to a two-year low and as investors kept track of Federal Reserve Chairman Jerome Powell's congressional testimony over monetary policy.

The Dow Jones Industrial Average rose 0.6% to 30,677.36, the S&P 500 was up 1% to 3,795.73 and the Nasdaq Composite climbed 1.6% to 11,232.19.

Utilities and healthcare led the gainers while energy and materials were the steepest decliners.

The US 10-year yield slumped 6 basis points to 3.1%.

West Texas Intermediate crude oil futures dropped 2.2% to $103.87 per barrel.

Gold was down 0.6% to $1,827.70 per troy ounce.

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