Stocks rallied to record highs on Wall Street Wednesday on encouraging company earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.
The S&P 500, Dow Jones Industrial Average, Nasdaq composite and Russell 2000 small-caps index eclipsed their all-time highs set earlier this month. Gains in technology, communications, health care and most other sectors powered the rally.
Treasury yields rose. Netflix soared after passing 200 million subscribers.
On Wednesday:
The S&P 500 rose 52.94 points, or 1.4%, to 3,851.85.
The Dow Jones Industrial Average gained 257.86 points, or 0.8%, to 31,188.38.
The Nasdaq composite climbed 260.07 points, or 2%, to 13,457.25.
The Russell 2000 index of smaller companies picked up 9.48 points, or 0.4%, to 2,160.62.
For the week:
The S&P 500 is up 83.60 points, or 2.2%.
The Dow is up 374.12 points, or 1.2%.
The Nasdaq is up 458.74 points, or 3.5%.
The Russell 2000 is up 37.42 points, or 1.8%.
For the year:
The S&P 500 is up 95.78 points, or 2.6%.
The Dow is up 581.90 points, or 1.9%.
The Nasdaq is up 568.97 points, or 4.4%.
The Russell 2000 is up 185.76 points, or 9.4%.
Before you consider Netflix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Netflix wasn't on the list.
While Netflix currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report