U.S. stocks drifted after the Federal Reserve indicated it may cut interest rates twice this year, though it’s far from certain about that.
The S&P 500 ended basically flat Wednesday. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite rose 0.1%.
Treasury yields also wavered but ultimately held relatively steady after Fed Chair Jerome Powell said the central bank is still waiting to see what the effects of tariffs will be on the economy before deciding its next moves on interest rates. The price of oil swung in its latest yo-yo moves amid fighting between Israel and Iran.
On Wednesday:
The S&P 500 fell 1.85 points, or less than 0.1%, to 5,980.87.
The Dow Jones Industrial Average fell 44.14 points, or 0.1%, to 42,171.66.
The Nasdaq composite rose 25.18 points, or 0.1%, to 19,546.27.
The Russell 2000 index of smaller companies rose 11 points, or 0.5%, to 2,112.96.
For the week:
The S&P 500 is up 3.90 points, or 0.1%.
The Dow is down 26.13 points, or 0.1%.
The Nasdaq is up 139.45 points, or 0.7%.
The Russell 2000 is up 12.46 points, or 0.6%.
For the year:
The S&P 500 is up 99.24 points, or 1.7%.
The Dow is down 372.56 points, or 0.9%.
The Nasdaq is up 235.48 points, or 1.2%.
The Russell 2000 is down 117.19 points, or 5.3%.
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