Dow Climbs 20% From Low as Stocks Rally and Inflation Fears Ebb
- Blue-chip index rises after Powell’s comments boost stocks
- Still needs to pass January peak to confirm a new bull market
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US stocks surged on Wednesday, putting the blue-chip Dow Jones Industrial Average more than 20% above its September low after Federal Reserve Chair Jerome Powell’s dovish comments and signs of cooling US inflation raised hopes that the central bank will become less aggressive on interest-rates hikes.
The surge in the oldest of Wall Street’s three main stock indexes meets what some investors define as a bull market. Though analysts don’t always share the same definition for when to call the end of a bear market, which they say can only be recognized in hindsight.