S&P 500 narrowly misses record close by 6 points as stock market bounces back from Tuesday's slump
U.S. stock benchmark finished sharply higher Wednesday, a day after the Dow Jones Industrial Average and the S&P 500 halted a win streak at seven sessions, as investors eyed the trajectory of the coronavirus pandemic and stronger-than-expected economic data. Wednesday's action was marked by a return to the trades that have worked throughout the pandemic, large-capitalization tech stocks and stay-at-home companies, which have lead the rally back from the coronavirus lows in March. The S&P 500 index closed about 6 points shy from a record close, ending at around 3,380, based on preliminary levels. That narrowly misses the Feb. 19 closing high at 3,386.15. The Dow Jones Industrial Average finished up 1.1% at 27,977, also on a preliminary basis. Meanwhile, the technology-laden Nasdaq Composite Index resumed its dominance, which had seemed to fade in recent days, finishing up 2.1% at 11,012. Recently, investors had appeared to shift away from tech names and into beaten-down sectors like financial and energy but that action subsided on Wednesday.
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