U.S. stocks rose for a fourth straight day, led by solid gains for technology companies.
The S&P 500 rose 0.7% Wednesday and the tech-heavy Nasdaq gained 0.8%. The Dow Jones Industrial Average rose 314 points, or 0.7%.
Nvidia, Microsoft and Broadcom were among the tech stocks that drove the market’s gains. Financial services companies also fared well. Robinhood posted the biggest gain in the S&P 500, 10.9%, after saying it planned to expand its prediction markets business with the launch of a new exchange. The recent gains for stocks have been helped by rising hopes for another rate cut from the Federal Reserve next month.
On Wednesday:
The S&P 500 rose 46.73 points, or 0.7%, to 6,812.61.
The Dow Jones Industrial Average rose 314.67 points, or 0.7%, to 47,427.12.
The Nasdaq composite rose 189.10 points, or 0.8%, to 23,214.69.
The Russell 2000 index of smaller companies rose 20.14 points, or 0.8%, to 2,486.12.
For the week:
The S&P 500 is up 209.62 points, or 3.2%.
The Dow is up 1,181.71 points, or 2.6%.
The Nasdaq is up 941.61 points, or 4.2%.
The Russell 2000 is up 116.53 points, or 4.9%.
For the year:
The S&P 500 is up 930.98 points, or 15.8%.
The Dow is up 4,882.90 points, or 11.5%.
The Nasdaq is up 3,903.90 points, or 20.2%.
The Russell 2000 is up 255.96 points, or 11.5%.
The Associated Press
