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Stocks closed greater on Wall Street Wednesday as traders reviewed a largely encouraging batch of earnings from large firms.
The S&P 500 rose 1.6% to an virtually 2-month excessive. The Nasdaq and Dow Jones industrials additionally rose.
Starbucks and CVS closed greater after reporting stable quarterly outcomes. PayPal shares soared on a report that activist investor Elliott Management has taken a big stake within the cost firm. The 10-year Treasury yield slipped. Oil costs fell after the OPEC oil cartel and its allies determined to spice up manufacturing in September by a a lot slower tempo than in earlier months.
On Wednesday:
The S&P 500 rose 63.98 factors, or 1.6%, to 4,155.17.
The Dow Jones Industrial Average rose 416.33 factors, or 1.3%, to 32,812.50.
The Nasdaq rose 319.40 factors, or 2.6%, to 12,668.16.
The Russell 2000 index of smaller firms rose 26.48 factors, or 1.4%, to 1,908.93.
For the week:
The S&P 500 is up 24.88 factors, or 0.6%.
The Dow Jones Industrial Average is down 32.63 factors, or 0.1%.
The Nasdaq is up 277.47 factors, or 2.2%.
The Russell 2000 index of smaller firms is up 23.70 factors, or 1.3%.
For the yr:
The S&P 500 is down 611.01 factors, or 12.8%.
The Dow is down 3,525.80 factors, or 9.7%.
The Nasdaq is down 2,976.81 factors, or 19%.
The Russell 2000 is down 336.39 factors, or 15%.
How main US inventory indexes fared Wednesday 8/03/2022.
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