Stocks drifted to a mixed close on Wall Street after central banks around the world showed they’re not done cranking interest rates higher in their fight against inflation.
The S&P 500 rose 0.4 percent Thursday. Most stocks in the index fell, but gains from some big technology stocks countered losses elsewhere. The Nasdaq rose 1 percent and the Dow was little changed.
The Bank of England hiked its main interest rate by more than expected, while central banks in Norway, Switzerland and Turkey also raised rates. Federal Reserve Chair Jerome Powell said again that rates may go higher in the United States.
On Thursday:
The S&P 500 rose 16.20 points, or 0.4 percent, to 4,381.89.
The Dow Jones Industrial Average fell 4.81 points, or less than 0.1 percent, to 33,946.71.
The Nasdaq composite rose 128.41 points, or 1 percent to 13,630.61.
The Russell 2000 index of smaller companies fell 14.84 points, or 0.8 percent, to 1,848.18.
For the week:
The S&P 500 is down 27.70 points, or 0.6 percent.
The Dow is down 352.41 points, or 1 percent.
The Nasdaq is down 58.96 points, or 0.4 percent.
The Russell 2000 is down 27.29 points, or 1.5 percent.
For the year:
The S&P 500 is up 542.39 points, or 14.1 percent.
The Dow is up 799.46 points, or 2.4 percent.
The Nasdaq is up 3,164.13 points, or 30.2 percent.
The Russell 2000 is up 86.93 points, or 4.9 percent.
