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Thursday, July 28, 2022
Stocks moved in one direction on Wednesday — higher.
When the closing bell rang, the Nasdaq was up over 4%, the S&P 500 had risen 2.6%, and the Dow was up 1.4%. This marked the Nasdaq’s biggest rally since November 2020.
Including Wednesday’s surge, the S&P 500 has gained more than 1% after each of the Fed’s last four meetings, all of which have included interest rate hikes from the central bank.
And since hitting its most recent low on June 16, the S&P 500 is now up 10%.
What ultimately moved markets on Wednesday was, as always,