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Wall Street got back to climbing after the latest update on
inflation appeared to clear the way for more help for the
economy from the Federal Reserve. The S&P 500 gained 0.8%
Wednesday to break a two-day losing streak and finished just
short of its all-time high. Big Tech stocks led the way, which
drove the Nasdaq composite up 1.8% to top the 20,000 level for
the first time. The Dow Jones Industrial Average lagged with a
dip of 0.2%. Stocks got a boost as expectations built that the
Fed will deliver another cut to interest rates at its meeting
next week.
On Wednesday:
The S&P 500 rose 49.28 points, or 0.8%, to 6,084.19.
The Dow Jones Industrial Average fell 99.27 points, or 0.2%, to
44,148.56.
The Nasdaq composite rose 347.65 points, or 1.8%, to 20,034.89.
The Russell 2000 index of smaller companies rose 11.38 points,
or 0.5%, to 2,394.16.
For the week:
The S&P 500 is down 6.08 points, or 0.1%.
The Dow is down 493.96 points, or 1.1%.
The Nasdaq is up 175.12 points, or 0.9%.
The Russell 2000 is down 14.84 points, or 0.6%.
For the year:
The S&P 500 is up 1,314.36 points, or 27.6%.
The Dow is up 6,459.02 points, or 17.1%.
The Nasdaq is up 5,023.54 points, or 33.5%.
The Russell 2000 is up 367.09 points, or 18.1%.
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