U.S. stocks rally, investors bet on slower rate hikes


FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 26, 2018. REUTERS/Brendan McDermid

(Reuters) – Wall Street rallied on Wednesday, multiplying its gains as investors bet on a moderation in the pace of U.S. monetary policy tightening after comments from Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average .DJI rose 617.64 points, or 2.5 percent, to 25,366.37, the S&P 500 .SPX gained 61.61 points, or 2.30 percent, to 2,743.78 and the Nasdaq Composite .IXIC added 208.89 points, or 2.95 percent, to 7,291.59.

Reporting by Stephen Culp in New York; Editing by James Dalgleish


By Kenyan Digest

The Kenyan Digest Team