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How major US stock indexes fared Wednesday 8/24/2022

August 24, 2022 GMT

Stocks closed modestly higher as Wall Street recovered some of this week’s steep losses ahead of a highly anticipated speech by the Federal Reserve chair later this week.

The S&P 500 ended 0.3% higher Wednesday. The Dow Jones Industrial Average and Nasdaq also inched higher. Trading has been quiet the last two days ahead of a speech on Friday by Jerome Powell. Investors hope he’ll offer clarity about where interest rates are heading.

Treasury yields rose after a report showed orders for long-lasting goods were stronger in July than expected, excluding transportation.

On Wednesday:

The S&P 500 rose 12.04 points, or 0.3%, to 4,140.77.

The Dow Jones Industrial Average rose 59.64 points, or 0.2%, to 32,969.23.

The Nasdaq gained 50.23 points, or 0.4%, to 12,431.53.

The Russell 2000 index of smaller companies rose 16.14 points, or 0.8%, to 1,935.29.

For the week:

The S&P 500 is down 87.71 points, or 2.1%.

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The Dow is down 737.51 points, or 2.2%.

The Nasdaq is down 273.69 points, or 2.2%.

The Russell 2000 is down 22.06 points, or 1.1%.

For the year:

The S&P 500 is down 625.41 points, or 13.1%.

The Dow is down 3,369.07 points, or 9.3%.

The Nasdaq is down 3,213.44 points, or 20.5%.

The Russell 2000 is down 310.03 points, or 13.8%.