Technology companies powered stocks higher on Wall Street Wednesday, driving the S&P 500 to another record high.
More blowout profit reports from big tech companies spurred the latest gains for the sector, outweighing losses in health care, utilities, energy and elsewhere. Even so, most of the stocks within the benchmark S&P 500 fell.
Treasury yields rose ahead of a highly anticipated speech Thursday from Federal Reserve chair Jerome Powell.
On Wednesday:
The S&P 500 gained 35.11 points, or 1%, to 3,478.73.
The Dow Jones Industrial Average rose 83.48 points, or 0.3%, to 28,331.92.
The Nasdaq composite climbed 198.59 points, or 1.7%, to 11,665.06.
The Russell 2000 index of small company stocks fell 11.02 points, or 0.7%, to 1,560.19.
For the week:
The S&P 500 is up 81.57 points, or 2.4%.
The Dow is up 401.59 points, or 1.4%.
The Nasdaq is up 353.26 points, or 3.1%.
The Russell 2000 is up 7.72 points, or 0.5%.
For the year:
The S&P 500 is up 247.95 points, or 7.7%.
The Dow is down 206.52 points, or 0.7%.
The Nasdaq is up 2,692.45 points, or 30%.
The Russell 2000 is down 108.28 points, or 6.5%.
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