A rebound for technology stocks led Wall Street to records, even though the majority of U.S. stocks fell following another discouraging update on inflation.
The S&P 500 rose 0.6% Wednesday and topped its prior all-time high set early this week. The Dow Jones Industrial Average dipped 0.1%, and the Nasdaq composite climbed 1.2% to its own record.
Nvidia and other tech stocks led the way, a day after stumbling in an industrywide swoon. Most other stocks weakened after a report showed inflation at the U.S. wholesale level was significantly worse last month than economists expected.
On Wednesday:
The S&P 500 rose 43.29 points, or 0.6%, to 7,444.25.
The Dow Jones Industrial Average fell 67.36 points, or 0.1%, to 49,693.20
The Nasdaq composite rose 314.14 points, or 1.2%, to 26,402.34.
The Russell 2000 index of smaller companies rose 1.10 points, or less than 0.1% to 2,843.93.
For the week:
The S&P 500 is up 45.32 points, or 0.6%.
The Dow is up 84.04 points, or 0.2%.
The Nasdaq is up 155.27 points, or 0.6%.
The Russell 2000 is down 17.28 points, or 0.6%.
For the year:
The S&P 500 is up 598.75 points, or 8.7%.
The Dow is up 1,629.91 points, or 3.4%.
The Nasdaq is up 3,160.35 points, or 13.6%.
The Russell 2000 is up 362.02 points, or 14.6%.
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