Stocks Open Higher Ahead of Powell Testimony

Stocks Open Higher Ahead of Powell Testimony

US stocks advanced ahead of a second day of testimony from the Federal Reserve chairman Jerome Powell after he warned that rapidly rising interest rates threatened a recession.

The S&P 500 added 0.4% in early trading on Thursday. The tech-heavy Nasdaq Composite Index was up 0.4%, while the blue-chip Dow Jones Industrial Average was also up 0.4%.

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