More jumps for oil prices sent tremors through the bond market, along with hints that some Federal Reserve officials don’t want to cut interest rates any time soon. But fat profit reports from Visa and other big companies helped the U.S. stock market remain resilient Wednesday.
The S&P 500 edged down by less than 0.1 percent, a day after slipping from its latest all-time high. The Dow dropped 0.6 percent, while the Nasdaq composite inched up less than 0.1 percent.
The price for a barrel of Brent crude jumped nearly 6 percent. Treasury yields climbed as traders erased nearly all bets for a cut to rates by the Fed this year.
On Wednesday:
The S&P 500 fell 2.85 points, or less than 0.1 percent, to 7,135.95.
The Dow Jones Industrial Average fell 280.12 points, or 0.6 percent, to 48,861.81.
The Nasdaq composite rose 9.44 points, or less than 0.1 percent, to 24,673.24.
The Russell 2000 index of smaller companies fell 16.58 points, or 0.6 percent to 2,739.47.
For the week:
The S&P 500 is down 29.13 points, or 0.4 percent.
The Dow is down 368.90 points, or 0.7 percent.
The Nasdaq is down 163.36 points, or 0.7 percent.
The Russell 2000 is down 47.53 points, or 1.7 percent.
For the year:
The S&P 500 is up 290.45 points, or 4.2 percent.
The Dow is up 798.52 points, or 1.7 percent.
The Nasdaq is up 1,431.25 points, or 6.2 percent.
The Russell 2000 is up 257.56 points, or 10.4 percent.
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