U.S. stocks are closing higher Wednesday as investors continued to monitor the economic recovery and rising inflation
U.S. stocks are closing higher Wednesday as investors continued to monitor the economic recovery and rising inflation.
A variety of companies that rely on consumer spending made solid gains. Dick’s Sporting Goods surged after reporting a jump in first-quarter sales and solid earnings as team sports returned. Urban Outfitters and Abercrombie & Fitch also made gains on similarly strong financial results.
The S&P 500′s gain was kept in check by lagging healthcare company stocks. Markets have been bumpy in recent days as investors move past a stellar corporate earnings season and look for additional clues on economic growth.
The S&P 500 rose 7.86 points, or 0.2%, to 4,195.99.
The Dow Jones Industrial Average rose 10.59 points, or less than 0.1%, to 34,323.05.
The Nasdaq rose 80.82 points, or 0.6%, to 13,738.
The Russell 2000 index of smaller companies rose 43.52 points, or 2%, to 2,249.27.
For the week:
The S&P 500 is up 40.13 points, or 1%.
The Dow is up 115.21 points, or 0.3%.
The Nasdaq is up 267 points, or 2%.
The Russell 2000 is up 34.01 points, or 1.5%.
For the year:
The S&P 500 is up 439.92 points, or 11.7%.
The Dow is up 3,716.57 points, or 12.1%.
The Nasdaq is up 849.71 points, or 6.7%.
The Russell 2000 is up 274.42 points, or 13.9%.