The close: US stock markets rip higher as Powell rules out 75 basis point hike 05-May-22 05:06 am AnalysisAnalysis, US Market Anirudh Sethi S&P 500 up 122 points to 4298, or 2.9%Nasdaq +3.1%DJIA +2.8%Russell 2000 +2.6%TSX Composite +1.4%