Wall Street neared a record high ahead of a highly anticipated report on inflation, which could show whether all the excitement that’s vaulted stocks higher recently is warranted.
The S&P 500 rose 0.6 percent Wednesday and is just 0.3 percent below its all-time high. The Dow added 0.5 percent, and the Nasdaq composite climbed 0.8 percent.
Treasury yields held relatively steady ahead of Thursday’s update from the U.S. government on inflation at the consumer level. Hopes for a continued cooldown there have sent yields sinking and stocks soaring in recent months. Crude oil prices fell after giving up earlier gains.
On Wednesday:
The S&P 500 rose 26.95 points, or 0.6 percent, to 4,783.45.
The Dow Jones Industrial Average rose 170.57 points, 0.5 percent, to 37,695.73.
The Nasdaq composite rose 111.94 points, or 0.8 percent, to 14,969.65.
The Russell 2000 index of smaller companies rose 2.23 points, or 0.1 percent, to 1,970.26.
For the week:
The S&P 500 is up 86.21 points, or 1.8 percent.
The Dow is up 229.62 points, or 0.6 percent.
The Nasdaq is up 445.58 points, or 3.1 percent.
The Russell 2000 is up 19.12 points, or 1 percent.
For the year:
The S&P 500 is up 13.62 points, or 0.3 percent.
The Dow is up 6.19 points, or less than 0.1 percent.
The Nasdaq is down 41.70 points, or 0.3 percent.
The Russell 2000 is down 56.81 points, or 2.8 percent.
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