U.S. stocks drifted to a mixed close as drops for Microsoft and other big-name tech stocks overshadowed gains for much of the rest of Wall Street.
The S&P 500 fell 0.4 percent Wednesday even though the majority of stocks within the index rose. The Dow Jones Industrial Average added 91 points, or 0.3 percent, while the Nasdaq composite lagged the market with a loss of 1.3 percent.
Tech stocks dropped as yields rose in the Treasury market. The Bank of Canada raised interest rates for the first time since January, ahead of a decision on interest rates next week by the Federal Reserve.
On Wednesday:
The S&P 500 fell 16.33 points, or 0.4 percent, to 4,267.52.
The Dow Jones Industrial Average rose 91.74 points, or 0.3 percent, to 33,665.02.
The Nasdaq composite fell 171.52 points, or 1.3 percent to 13,104.89.
The Russell 2000 index of smaller companies rose 33.05 points, or 1.8 percent, to 1,888.45.
For the week:
The S&P 500 is down 14.85 points, or 0.3 percent.
The Dow is down 97.74 points, or 0.3 percent.
The Nasdaq is down 135.87 points, or 1 percent.
The Russell 2000 is up 57.54 points, or 3.1 percent.
For the year:
The S&P 500 is up 428.02 points, or 11.1 percent.
The Dow is up 517.77 points, or 1.6 percent.
The Nasdaq is up 2,638.41 points, or 25.2 percent.
The Russell 2000 is up 127.20 points, or 7.2 percent.
