Stocks closed lower as Wall Street waited for a highly anticipated report on inflation that’s arriving the following day.
The S&P 500 lost 0.7% Wednesday, and has now dropped six of the last seven days. The Dow lost 191 points, or 0.5%, after flipping between gains and losses through the day. The Nasdaq composite fell 1.2%.
Companies are continuing to report better-than-expected profits for the spring. Taser maker Axon Enterprise jumped following its report. But more attention is on Thursday’s inflation data, which investors hope will give the Federal Reserve reason to halt its hikes to interest rates.
On Wednesday:
The S&P 500 fell 31.67 points, or 0.7%, to 4,467.71
The Dow Jones Industrial Average fell 191.13 points, or 0.5%, to 35,123.36.
The Nasdaq composite fell 162.31 points, or 1.2%, to 13,722.02.
The Russell 2000 index of smaller companies fell 16.65 points, or 0.9%, to 1,930.77.
For the week:
The S&P 500 is down 10.32 points, or 0.2%.
The Dow is up 57.74 points, or 0.2%.
The Nasdaq is down 187.22 points, or 1.3%.
The Russell 2000 is down 26.70 points, or 1.4%.
For the year:
The S&P 500 is up 628.21 points, or 16.4%.
The Dow is up 1,976.11 points, or 6%.
The Nasdaq is up 3,255.53 points, or 31.1%.
The Russell 2000 is up 169.52 points, or 9.6%.
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