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% Wednesday and is just 0.3% below its all-time high. The Dow added 0.5%, and the Nasdaq composite climbed 0.8%.
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%, to 4,783.45.
The Dow Jones Industrial Average rose 170.57 points, 0.5%, to 37,695.73.
The Nasdaq composite rose 111.94 points, or 0.8%, to 14,969.65.
The Russell 2000 index of smaller companies rose 2.23 points, or 0.1%, to 1,970.26.
For the week:
The S&P 500 is up 86.21 points, or 1.8%.
The Dow is up 229.62 points, or 0.6%.
The Nasdaq is up 445.58 points, or 3.1%.
The Russell 2000 is up 19.12 points, or 1%.
For the year:
The S&P 500 is up 13.62 points, or 0.3%.
The Dow is up 6.19 points, or less than 0.1%.
The Nasdaq is down 41.70 points, or 0.3%.
The Russell 2000 is down 56.81 points, or 2.8%.
