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% Wednesday, trimming its loss for August. The Dow added 184 points, and the Nasdaq composite climbed 1.6%.
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% 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%, to 4,436.01.
The Dow Jones Industrial Average rose 184.15 points, or 0.5%, to 34,472.98.
The Nasdaq composite rose 215.16 points, or 1.6%, to 13,721.03.
The Russell 2000 index of smaller companies rose 19.20 points, or 1%, to 1,870.03.
For the week:
The S&P 500 is up 66.30 points, or 1.5%.
The Dow is down 27.68 points, or 0.1%.
The Nasdaq is up 430.26 points, or 3.2%.
The Russell 2000 is down 10.61 points, or 0.6%.
For the year:
The S&P 500 is up 596.51 points, or 15.5%.
The Dow is up 1,325.73 points, or 4%.
The Nasdaq is up 3,254.55 points, or 31.1%.
The Russell 2000 is up 108.79 points, or 6.2%.
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