Investors are keeping a close eye on the Federal Reserve Chairman, who’s still promising to raise interest rates.
Fed chair Jerome Powell says he still sees rate hikes coming, most likely a quarter of a percent. But he says the Fed could move more aggressively if inflation stays like it is.
That all pushed the markets higher.
The Dow gained 596 or 1.8% to close at 33,891.
The Nasdaq jumped 219 points.
The S&P finished ahead almost 2%, up 80 points.
It’s turning into a daily report on oil prices, with the instability surrounding Ukraine. At the closing bell, oil traded for $112 a barrel, up almost 9% today alone.
A major restructuring at Ford. The automaker splits into two companies, one making traditional combustion engines, the other called “Model E”. The latter is dedicated to making electric vehicles.
As “video killed the radio star,” some say the streaming movement has killed movie theaters. Unless you talk to the outspoken CEO of AMC. He calls that thought quote “a load of cow dung”. AMC sales went from 162 million two years ago, to 1.1 billion last year.
From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.