U.S. stocks rose for a fourth straight day, led by solid gains for technology companies.
The S&P 500 rose 0.7 percent Wednesday and the tech-heavy Nasdaq gained 0.8 percent. The Dow Jones Industrial Average rose 314 points, or 0.7 percent.
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 percent, 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 percent, to 6,812.61.
The Dow Jones Industrial Average rose 314.67 points, or 0.7 percent, to 47,427.12.
The Nasdaq composite rose 189.10 points, or 0.8 percent, to 23,214.69.
The Russell 2000 index of smaller companies rose 20.14 points, or 0.8 percent, to 2,486.12.
For the week:
The S&P 500 is up 209.62 points, or 3.2 percent.
The Dow is up 1,181.71 points, or 2.6 percent.
The Nasdaq is up 941.61 points, or 4.2 percent.
The Russell 2000 is up 116.53 points, or 4.9 percent.
For the year:
The S&P 500 is up 930.98 points, or 15.8 percent.
The Dow is up 4,882.90 points, or 11.5 percent.
The Nasdaq is up 3,903.90 points, or 20.2 percent.
The Russell 2000 is up 255.96 points, or 11.5 percent.
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