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Stock Market Today: Stocks Gain as Powell Testifies, IBM Sinks - Barron's

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Updated Jan. 11, 2022 1:16 pm ET / Original Jan. 11, 2022 5:30 am ET

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Stocks just needed a little reassurance that the Federal Reserve isn’t going to do a lot of damage economy. Fed Chairman Jerome Powell provided just that Tuesday.

Powell went to Capitol Hill for his renomination hearing before the Senate Banking Committee. He exuded confidence in the markets and the recovery. After he spoke, investors started buying.