Stocks closed higher on Wall Street after the head of the Federal Reserve signaled last week’s stunningly strong jobs report isn’t likely to change where interest rates are heading on its own, as some investors had feared.

The S&P 500, the Nasdaq and the Dow rose. Comments from Fed chief Jerome Powell sent stocks from losses to big gains and then back and forth a couple times. High inflation and how high the Fed will take interest rates to fight it have been at the center of Wall Street’s wild movements for more than a year.

On Tuesday:

The S&P 500 rose 52.92 points, or 1.3%, to 4,164.

The Dow Jones Industrial Average rose 265.67 points, or 0.8%, to 34,156.69.

The Nasdaq composite rose 226.34 points, or 1.9%, to 12,113.79.

The Russell 2000 index of smaller companies rose 14.89 points, or 0.8%, to 1,972.61.

For the week:

The S&P 500 is up 27.52 points, or 0.7%.

The Dow is up 230.68 points, or 0.7%.

The Nasdaq is up 106.83 points, or 0.9%.

The Russell 2000 is down 12.93 points, or 0.7%.

For the year:

The S&P 500 is up 324.50 points, or 8.5%.

The Dow is up 1,009.44 points, or 3%.

The Nasdaq is up 1,647.30 points, or 15.7%.

The Russell 2000 is up 211.36 points, or 12%.

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