From Nasdaq.:

Wall Street’s major indexes closed higher on Wednesday as Fed Chair Jerome Powell hinted at rate cuts. Powell expects a rate cut this year as inflation eases but lacks confidence in its decline. Data showed a slight increase in private payrolls and a decline in job openings, boosting hopes for rate cuts. The Dow Jones rose 0.20%, the S&P 500 gained 0.51%, and the Nasdaq added 0.58%. Chip companies outperformed, Tesla fell, and shares of JD.com surged. CrowdStrike forecasted strong results, but Palo Alto fell. Market sentiment was positive with more advancing issues than decliners on NYSE and Nasdaq. On U.S. exchanges, 12.54 billion shares were traded.



Read more at Nasdaq.: US STOCKS-Wall Street indexes advance as Fed’s Powell fuels hopes for rate cuts this year