Market Snapshot: Stocks pare intra-day gains after dovish testimony by Fed Chairman Powell

U.S. stocks rose Wednesday, though off session highs at midday, after testimony by Federal Reserve Chairman Jerome Powell before Congress was seen indicating a likely interest rate cut later this month.

How are the major benchmarks faring?

The Dow Jones Industrial Average DJIA, +0.29% rose 69 points, or 0.3%, at 26,850, while the S&P 500 index SPX, +0.44% advanced 9 points, or 0.3%, to 2,989. The Nasdaq Composite index COMP, +0.65% added 36 points, or 0.5%, to 8,178.

At session highs, the Dow rose 199.96 points, or 0.7%, to 26,983.45, while the S&P added 22.26 points, or 0.8% to 3,002.89 and the Nasdaq advanced 86.87 points, or 1.1% to 8.228.60.

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