Stock market today: Stocks cling to gains as Powell says rate cuts likely at 'some point' this year

Stock market today: Stocks cling to gains as Powell says rate cuts likely at 'some point' this year

Stock market today: Stocks cling to gains as Powell says rate cuts likely at 'some point' this year US stocks were higher on Wednesday as Federal Reserve chair Jerome Powell reiterated the Fed will likely cut interest rates this year amid inflation's "bumpy" path downward. The S&P 500 (^GSPC) rose about 0.3%, while the Dow Jones Industrial Average (^DJI) popped about 0.1%. The tech-heavy Nasdaq Composite (^IXIC) led the gains, rising more than 0.4% after the major gauges closed Tuesday …