S&P 500 rose 1.8% to 3,979; the Dow went up 1.4% to 31,581; and the Nasdaq soared 2.1% to 11,791
Stocks ended broadly higher on Wall Street, placing the
market on pace to break a 3-week losing streak.
The S&P 500 rose 1.8% Wednesday, and the tech-heavy
stocks outpaced the rest of the market. Airlines did well after United (NASDAQ:
UAL) raised its revenue forecast following a busy
summer travel season. Energy stocks fell along with oil prices.
Investors are keeping a close eye on the Federal Reserve as
it fights inflation with high interest rates. Vice Chair Lael Brainard reaffirmed
in tackling inflation in remarks delivered Wednesday, two weeks before the
Fed's next policy meeting.
On Wednesday:
The S&P 500 rose 71.68 points, or 1.8%, to 3,979.87.
The Dow Jones Industrial Average rose 435.98 points, or
1.4%, to 31,581.28.
The Nasdaq rose 246.99 points, or 2.1%, to 11,791.90.
The Russell 2000 index of smaller companies rose 39.68
points, or 2.2%, to 1,832.
For the week:
The S&P 500 is up 55.61 points, or 1.4%.
The Dow is up 262.84 points, or 0.8%.
The Nasdaq is up 161.03 points, or 1.4%.
The Russell 2000 is up 22.26 points, or 1.2%.
For the year:
The S&P 500 is down 786.31 points, or 16.5%.
The Dow is down 4,757.02 points, or 13.1%.
The Nasdaq is down 3,853.07 points, or 24.6%.
The Russell 2000 is down 413.31 points, or 18.4%.
(Text and
image by AP)
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UShiring slows in August as employers add 211,000 less jobs than previous month