The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state.
In a mixed and muted day of trading, the S&P 500 rose 0.2%. The Dow inched lower, and the Nasdaq edged up to a record high for the second straight day. The Fed is keeping the accelerator floored on its support for the economy, but investors are more interested in what’s happening across Washington. They want to see Congress reach a deal to deliver another dose of financial support for the economy.
The S&P 500 rose 6.55 points, or 0.2%, to 3,701.17..
The Dow Jones Industrial Average slipped 44.77 points, or 0.1%, to 30,154.54.
The Nasdaq composite rose 63.13, or 0.5%, to 12,658.19.
The Russell 2000 index of smaller companies lost 7.04, or 0.4%, to 1,952.72.
For the week:
The S&P 500 is up 37.71 points, or 1%.
The Dow is up 108.17 points, or 0.4%.
The Nasdaq is up 280.32 points, or 2.3%.
The Russell 2000 is up 41.02 points, or 2.1%.
For the year:
The S&P 500 is up 470.39 points, or 14.6%.
The Dow is up 1,616.10 points, or 5.7%.
The Nasdaq is up 3,685.58 points, or 41.1%.
The Russell 2000 is up 284.25 points, or 17%.
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