Stocks rose Wednesday as market participants looked to recover some losses from the previous session. The Dow Jones Industrial Average climbed over 75 points, while the S&P 500 Index and Nasdaq Composite added about 0.5% and 6%, respectively.
Here's how the market settled on Wednesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In the News: New York Community Bancorp
Federal Reserve Chair Jerome Powell said during a hearing before the House Financial Services Committee that the overall health of the U.S. economy remains in good shape, as the labor market remains strong and inflation continues to ease over the past year.
"We're trying to use our policies to keep that growth going to keep that labor market strong, while also achieving further progress on inflation," Powell said. "That's our goal and I do think there's a possibility we can achieve all of that while keeping the labor market strong and the economy growing."
In Economic News: Private U.S. payrolls rose at a slower-than-expected rate in February, payroll processing firm ADP reported Wednesday, offering a prelude to the federal government's "official" monthly jobs report due out Friday. The private sector added 140,000 positions last month, marking an improvement from January's upwardly revised total of 111,000 but coming in below analysts' forecasts.
On the Earnings Front: CrowdStrike
"CrowdStrike was born in the cloud and pioneered cloud-native cybersecurity. We have been consistently recognized as the strategic leader in cloud security by delivering the outcomes customers need most from a single, unified platform," CEO George Kurtz said in a press release. "With the acquisition of Flow Security, we're expanding our cloud leadership by protecting data in all states as it flows through the cloud, and are redefining the future of data protection by securing data from code, to application, to device and cloud."
Nordstrom
Foot Locker
"As we continue evolving into a modern, omnichannel retailer for 'all things sneakers,' we are making important progress strengthening our brand partnerships, increasing customer engagement, transforming our real estate footprint, and driving growth in digital," said CEO Mary Dillon in a statement.