U.S. Stocks Rally Ahead Of Close Watched Inflation Data

Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Wednesday. With the strong upward move, the S&P 500 closed above 5,600 for the first time ever.

The major averages saw further upside going into the close, ending the day near their highs of the session. The Nasdaq surged 218.16 points or 1.2 percent to 18,647.45, the Dow shot up 429.39 points or 1.1 percent to 39,721.36 and the S&P 500 jumped 56.93 points or 1.0 percent to 5,633.91.

The rally on Wall Street was partly due to strength among technology stocks, as reflected by the notable advance by the tech-heavy Nasdaq, which also reached a new record closing high.

The strength among tech stocks came after Taiwan Semiconductor (TSM) reported […]

U.S. Stocks Close Little Changed Following Powell Testimony

Stocks showed a lack of direction over the course of the trading session on Tuesday, with the major averages bouncing back and forth across the unchanged line before eventually ending the day narrowly mixed.

Despite the choppy trading, the Nasdaq and the S&P 500 once again reached new record closing highs. While the Dow edged down 52.82 points or 0.1 percent to 39,291.97, the Nasdaq inched up 25.55 points or 0.1 percent to 18,429.29 and the S&P 500 crept up 4.13 points or 0.1 percent to 5,576.98.

The lackluster performance on Wall Street came as traders digested Federal Reserve Chair Jerome Powell’s testimony before the Senate Banking Committee.

Powell told the committee more good […]