How major US stock indexes fared Wednesday, 10/04/2023

Wall Street closed higher as the bond market loosened its vise on the stock market.

The S&P 500 rose 0.8% Wednesday, coming off a 1.4% tumble that sent it to its lowest level in four months. The Dow rose 127 points, a day after wiping out its gains for the year. The Nasdaq composite added 1.4%.

Treasury yields eased to give the stock market some more oxygen after reports suggested the U.S. economy may be cooling. Oil prices also tumbled by $5 per barrel to take some pressure off inflation and the threat of rates staying very high.

On Wednesday:

The S&P 500 rose 34.30 points, or 0.8%, to 4,263.75.

The Dow Jones Industrial Average rose 127.17 points, or 0.4%, to 33,129.55.

The Nasdaq composite rose 176.54 points, or 1.4%, to 13,236.01

The Russell 2000 index of smaller companies rose 1.86 points, or 0.1% to 1,729.01.

For the week:

The S&P 500 is down 24.30 points, or 0.6%.

The Dow is down 377.95 points, or 1.1%.

The Nasdaq is up 16.69 points, or 0.1%

The Russell 2000 is down 56.09 points, or 3.1%.

For the year:

The S&P 500 is up 424.25 points, or 11%.

The Dow is down 17.70 points, or 0.1%.

The Nasdaq is up 2,769.53 points, or 26.5%

The Russell 2000 is down 32.23 points, or 1.8%.