Wall Street ends broadly higher after sharp losses last week

Friday, June 17, 2022, Vol. 46, No. 24

NEW YORK (AP) — Stocks are ending higher on Wall Street Tuesday, clawing back some of the ground they lost last week in their worst weekly drop since the beginning of the pandemic.

The S&P 500 rose 2.4%. It's still 21.5% below the record high it set in January. The tech-heavy Nasdaq climbed 2.5% and the Dow Jones Industrial Average added 2.1%.

Markets will be closely watching congressional testimony this week from Federal Reserve Chair Jerome Powell for more clues about the Fed's thinking about inflation and future interest rate hikes.

The yield on the 10-year Treasury note rose to 3.30%.