Wall Street’s record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates.
The S&P 500 rose 0.5% Wednesday to set an all-time high for the 33rd time this year. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite rose 0.9% to push its own record higher.
Treasury yields slid following weaker-than-expected reports on both the job market and U.S. services companies, which make up the bulk of businesses. The data bolstered bets for the Federal Reserve to cut its main interest rate as soon as September.
On Wednesday:
The S&P 500 rose 28.01 points, or 0.5%, to 5,537.02.
The Dow Jones Industrial Average fell 23.85 points, or 0.1%, to 39,308.
The Nasdaq composite rose 159.54 points, or 0.9%, to 18,188.30.
The Russell 2000 index of smaller companies rose 2.75 points, or 0.1%, to 2,036.62.
For the week:
The S&P 500 is up 76.54 points, or 1.4%.
The Dow is up 189.14 points, or 0.5%.
The Nasdaq is up 455.70 points, or 2.6%.
The Russell 2000 is down 11.07 points, or 0.5%.
For the year:
The S&P 500 is up 767.19 points, or 16.1%.
The Dow is up 1,618.46 points, or 4.3%.
The Nasdaq is up 3,176.95 points, or 21.2%.
The Russell 2000 is up 9.55 points, or 0.5%.
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