Stocks shook off a midday slump and ended higher, keeping major indexes on track for weekly gains.
Trading was wobbly throughout the day as investors remained focused on another day of testimony before Congress by Federal Reserve Chair Jerome Powell. The S&P 500, the Dow Jones Industrial Average and the Nasdaq rose.
Powell reaffirmed the central bank’s goal of “keeping inflation expectations well and truly anchored” as the Fed tries to rein in surging prices. Treasury yields fell.
