Stocks drifted to a mixed close near the all-time highs they set last week.
The S&P 500 index edged up 0.2 percent Wednesday. The Nasdaq composite rose 0.5 percent, and the Dow Jones Industrial Average edged up less than 0.1 percent. The majority of stocks in the S&P 500 fell.
FedEx helped offset the losses with a gain of 15.5 percent. The package carrier reported results for its latest quarter that easily beat forecasts. Rivian soared more than 23 percent after Volkswagen said it would invest up to $5 billion in the struggling maker of electric vehicles.
On Wednesday:
The S&P 500 rose 8.60 points, or 0.2 percent, to 5,477.90.
The Dow Jones Industrial Average rose 15.64 points, or less than 0.1 percent, to 39,127.80.
The Nasdaq composite rose 87.50 points, or 0.5 percent, to 17,805.16.
The Russell 2000 index of smaller companies fell 4.23 points, or 0.2 percent, to 2,018.12.
For the week:
The S&P 500 is up 13.28 points, or 0.2 percent.
The Dow is down 22.53 points, or 0.1 percent.
The Nasdaq is up 115.79 points, or 0.7 percent.
The Russell 2000 is down 3.92 points, or 0.2 percent.
For the year:
The S&P 500 is up 708.07 points, or 14.8 percent.
The Dow is up 1,438.26 points, or 3.8 percent.
The Nasdaq is up 2,793.80 points, or 18.6 percent.
The Russell 2000 is down 8.95 points, or 0.4 percent.
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