Stocks closed higher on Wall Street as investors wait for updates on inflation and corporate profits.
The S&P 500 rose 0.7 percent Tuesday after another quiet day of trading. The Dow rose 316 points, or 0.9 percent, and the Nasdaq composite rose 0.6 percent. The week’s main event arrives Wednesday when the government offers the latest update on inflation in consumer prices.
The hope on Wall Street is that a continued easing in inflation will convince the Federal Reserve to stop raising interest rates. Activision Blizzard jumped 10 percent after a judge ruled Microsoft could move forward on its takeover of the video game maker.
On Tuesday:
The S&P 500 rose 29.73 points, or 0.7 percent, to 4,439.26.
The Dow Jones Industrial Average rose 317.02 points, or 0.9 percent, to 34,261.42.
The Nasdaq composite rose 75.22 points, or 0.5 percent, to 13,760.70.
The Russell 2000 index of smaller companies rose 18.11 points, or 1 percent, to 1,913.36.
For the week:
The S&P 500 is up 40.31 points, or 0.9 percent.
The Dow is up 526.54 points, or 1.6 percent.
The Nasdaq is up 99.98 points, or 0.7 percent.
The Russell 2000 is up 48.70 points, or 2.6 percent.
For the year:
The S&P 500 is up 599.76 points, or 15.6 percent.
The Dow is up 1,114.17 points, or 3.4 percent.
The Nasdaq is up 3,294.22 points, or 31.5 percent.
The Russell 2000 is up 152.12 points, or 8.6 percent.
