U.S. stocks bounced around their records after the Federal Reserve made moves to boost the job market but warned that more help isn’t guaranteed.
The S&P 500 finished virtually flat Wednesday. The Dow Jones Industrial Average slipped 0.2 percent, and the Nasdaq composite rose 0.5 percent. All three were coming off all-time highs.
Stocks had been on track for modest gains after the Fed said that it’s cutting its main interest rate for the second time this year. But the market snapped lower after Chair Jerome Powell later warned that a cut in December is not a foregone conclusion. Treasury yields rose in the bond market.
On Wednesday:
The S&P 500 fell 0.30 points, or less than 0.1 percent, to 6,890.59.
The Dow Jones Industrial Average fell 74.37 points, or 0.2 percent, to 47,632.
The Nasdaq composite rose 130.98 points, or 0.5 percent, to 23,958.47.
The Russell 2000 index of smaller companies fell 21.85 points, or 0.9 percent, to 2,484.81.
For the week:
The S&P 500 is up 98.90 points, or 1.5 percent.
The Dow is up 424.88 points, or 0.9 percent.
The Nasdaq is up 753.61 points, or 3.2 percent.
The Russell 2000 is down 28.66 points, or 1.1 percent.
For the year:
The S&P 500 is up 1,008.96 points, or 17.2 percent.
The Dow is up 5,087.78 points, or 12 percent.
The Nasdaq is up 4,647.68 points, or 24.1 percent.
The Russell 2000 is up 254.65 points, or 11.4 percent.
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