Wall Street had its best day since June as pressure on stocks from the bond market relaxed a bit.
The S&P 500 rose 1.1 percent Wednesday, trimming its loss for August. The Dow added 184 points, and the Nasdaq composite climbed 1.6 percent.
Treasury yields eased in the bond market after a report suggested the surprisingly resilient U.S. economy is cooling. Big Tech stocks and others that benefit from easier interest rates led the market. Nvidia climbed 3.2 percent ahead of its highly anticipated profit report. Nvidia and other stocks benefiting from a frenzy around artificial intelligence have helped drive this year’s gains for the stock market.
On Wednesday:
The S&P 500 rose 48.46 points, or 1.1 percent, to 4,436.01.
The Dow Jones Industrial Average rose 184.15 points, or 0.5 percent, to 34,472.98.
The Nasdaq composite rose 215.16 points, or 1.6 percent, to 13,721.03.
The Russell 2000 index of smaller companies rose 19.20 points, or 1 percent, to 1,870.03.
For the week:
The S&P 500 is up 66.30 points, or 1.5 percent.
The Dow is down 27.68 points, or 0.1 percent.
The Nasdaq is up 430.26 points, or 3.2 percent.
The Russell 2000 is down 10.61 points, or 0.6 percent.
For the year:
The S&P 500 is up 596.51 points, or 15.5 percent.
The Dow is up 1,325.73 points, or 4 percent.
The Nasdaq is up 3,254.55 points, or 31.1 percent.
The Russell 2000 is up 108.79 points, or 6.2 percent.
