U.S. stocks drifted to a mixed finish.
The S&P 500 closed little changed Wednesday after a two-day winning streak erased nearly two-thirds of last week’s steep loss. The Dow Jones Industrial Average fell 0.1 percent, and the Nasdaq composite edged up 0.1 percent.
Tesla jumped after saying the night before that it would accelerate production of more affordable vehicles. Norfolk Southern stumbled after reporting weaker results than expected, as did Teledyne Technologies. Treasury yields rose in the bond market following the latest report on the U.S. economy to come in hotter than forecast. Orders for long-lasting durable goods strengthened more than expected.
On Wednesday:
The S&P 500 rose 1.08 points, or less than 0.1 percent, to 5,071.63.
The Dow Jones Industrial Average fell 42.77 points, or 0.1 percent, to 38,460.92.
The Nasdaq composite rose 16.11 points, or 0.1 percent, to 15,712.75.
The Russell 2000 index of smaller companies fell 7.22 points, or 0.4 percent, to 1,995.43.
For the week:
The S&P 500 is up 104.40 points, or 2.1 percent.
The Dow is up 474.52 points, or 1.2 percent.
The Nasdaq is up 430.74 points, or 2.8 percent.
The Russell 2000 is up 47.77 points, or 2.5 percent.
For the year:
The S&P 500 is up 301.80 points, or 6.3 percent.
The Dow is up 771.38 points, or 2 percent.
The Nasdaq is up 701.40 points, or 4.7 percent.
The Russell 2000 is down 31.65 points, or 1.6 percent.
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