Stocks drifted to a mixed close near the all-time highs they set last week.
The S&P 500 index edged up 0.2% Wednesday. The Nasdaq composite rose 0.5%, and the Dow Jones Industrial Average edged up less than 0.1%. The majority of stocks in the S&P 500 fell.
FedEx helped offset the losses with a gain of 15.5%. The package carrier reported results for its latest quarter that easily beat forecasts. Rivian soared more than 23% after Volkswagen said it would invest up to $5 billion in the struggling maker of electric vehicles.
On Wednesday:
The S&P 500 rose 8.60 points, or 0.2%, to 5,477.90.
The Dow Jones Industrial Average rose 15.64 points, or less than 0.1%, to 39,127.80.
The Nasdaq composite rose 87.50 points, or 0.5%, to 17,805.16.
The Russell 2000 index of smaller companies fell 4.23 points, or 0.2%, to 2,018.12.
For the week:
The S&P 500 is up 13.28 points, or 0.2%.
The Dow is down 22.53 points, or 0.1%.
The Nasdaq is up 115.79 points, or 0.7%.
The Russell 2000 is down 3.92 points, or 0.2%.
For the year:
The S&P 500 is up 708.07 points, or 14.8%.
The Dow is up 1,438.26 points, or 3.8%.
The Nasdaq is up 2,793.80 points, or 18.6%.
The Russell 2000 is down 8.95 points, or 0.4%.
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