The three major indices of US stocks rose after Federal Reserve Chairman Jerome Powell said at a forum sponsored by Sweden’s central bank that the Fed’s independence is necessary to fight inflation. Shares of Jefferies Financial Group (JEF.N) rose a day after it reported its second-best year in terms of investment banking revenue, and reported a 52.5% drop in fourth-quarter earnings.
The Dow Jones industrial index rose 187.9 points, or 0.56%, to 33,705.55 points, and the Standard & Poor’s 500 index rose by 27.32 points, or 0.70%, to 3,919.41 points. The Nasdaq Composite Index also rose 106.98 points, or 1.01%, to 10,742.63 points.
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