view original post

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

NEW YORK — Stocks shook off a midday slump and ended higher Thursday, keeping the market on track for its first weekly gain after three weeks of punishing losses.

Trading was wobbly throughout the day as investors remained focused on another round of testimony before Congress by Federal Reserve Chair Jerome Powell. Speaking before a House committee, Powell again stressed that the Fed hopes to rein in the worst inflation in four decades without knocking the economy into a recession, but acknowledged “that path has gotten more and more challenging.”

 
. . .

Related Posts