U.S. stocks hung near their all-time high as financial markets caught a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the global flow of crude oil.
The S&P 500 barely budged on Wednesday and is sitting just 0.8% below its all-time high. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite rose 0.3%.
Oil prices stabilized after plunging by roughly $10 per barrel in the prior two days. Stock indexes fell modestly in Europe after rising in Asia, and Treasury yields held relatively steady in the bond market.
On Wednesday:
The S&P 500 fell 0.02 points, or less than 0.1%, to 6,092.16.
The Dow Jones Industrial Average fell 106.59 points, or 0.2%, to 42,982.43.
The Nasdaq composite rose 61.02 points, or 0.3%, to 19,973.55.
The Russell 2000 index of smaller companies fell 25.03 points, or 1.2%, to 2,136.18.
For the week:
The S&P 500 is up 124.32 points, or 2.1%.
The Dow is up 775.61 points, or 1.8%.
The Nasdaq is up 526.14 points, or 2.7%.
The Russell 2000 is up 26.92 points, or 1.3%.
For the year:
The S&P 500 is up 210.53 points, or 3.6%.
The Dow is up 438.21 points, or 1%.
The Nasdaq is up 662.76 points, or 3.4%.
The Russell 2000 is down 93.97 points, or 4.2%.
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