U.S. stocks broke out of a three-day lull and closed at another record high.
The S&P 500 added 0.9% Wednesday, beating the all-time high it set last week. The Dow Jones Industrial Average climbed 1.2%, and the Nasdaq composite added 0.5%. The Dow and Nasdaq closed just short of their own records.
Merck helped push the market higher after winning federal approval for its treatment for a rare disease affecting blood vessels. Trump Media & Technology Group continued its wild ride and shot higher again in its second day of trading, even as its Truth Social platform loses money. Treasury yields fell.
On Wednesday:
The S&P 500 rose 44.91 points, or 0.9%, to 5,248.49.
The Dow Jones Industrial Average rose 477.75 points, or 1.2%, to 39,760.08.
The Nasdaq composite rose 83.82 points, or 0.5%, to 16,399.52.
The Russell 2000 index of smaller companies rose 44.19 points, or 2.1%, to 2,114.35.
For the week:
The S&P 500 is up 14.31 points, or 0.3%.
The Dow is up 284.18 points, or 0.7%.
The Nasdaq is down 29.30 points, or 0.2%.
The Russell 2000 is up 42.35 points, or 2%.
For the year:
The S&P 500 is up 478.66 points, or 10%.
The Dow is up 2,070.54 points, or 5.5%.
The Nasdaq is up 1,388.17 points, or 9.2%.
The Russell 2000 is up 87.27 points, or 4.3%.
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