U.S. stocks closed higher after more big companies delivered profit reports that topped analysts’ expectations.
The S&P 500 rose 0.4% Wednesday. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite rose 0.6%.
Target jumped after topping profit expectations for the spring. But Macy’s dropped after it cut its forecast for sales this year due in part to more discriminating shoppers.
Treasury yields eased a bit as investors wait for the week’s main event, which will arrive Friday. That’s when Federal Reserve Chair Jerome Powell will give a speech about interest rates.
On Wednesday:
The S&P 500 rose 23.73 points, or 0.4%, to 5,620.85.
The Dow Jones Industrial Average rose 55.52 points, or 0.1%, to 40,890.49.
The Nasdaq composite rose 102.05 points, or 0.6%, to 17,918.99.
The Russell 2000 index of smaller companies rose 28.37 points, or 1.3%, to 2,170.56
For the week:
The S&P 500 is up 66.60 points, or 1.2%.
The Dow is up 230.73 points, or 0.6%.
The Nasdaq is up 287.27 points, or 1.6%.
The Russell 2000 is up 28.64 points, or 1.3%.
For the year:
The S&P 500 is up 851.02 points, or 17.8%.
The Dow is up 3,200.95 points, or 8.5%.
The Nasdaq is up 2,907.64 points, or 19.4%.
The Russell 2000 is up 143.48 points, or 7.1%.
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