Stocks Close Higher After Fed Chairman Testifies

U.S. stocks advanced amid a second day of testimony from Federal Reserve Chairman Jerome Powell after he warned that rapidly rising interest rates threatened a recession. 

On Thursday, the S&P 500 rose 35.84 points, or 1%, to 3795.73. The technology-heavy Nasdaq Composite Index gained 179.11 points, or 1.6%, to 11232.19. The blue-chip Dow Jones Industrial Average rose 194.23 points, or 0.6%, to 30677.36.