How major US stock indexes fared Wednesday, 3/27/2024
U.S. stocks broke out of a three-day lull and closed at another record high
U.S. stocks broke out of a three-day lull and closed at another record high.
The S&P 500 added 0.9% Wednesday, beating the all-time high it set last week. The Dow Jones Industrial Average climbed 1.2%, and the Nasdaq composite added 0.5%. The Dow and Nasdaq closed just short of their own records.
Merck helped push the market higher after winning federal approval for its treatment for a rare disease affecting blood vessels. Trump Media & Technology Group continued its wild ride and shot higher again in its second day of trading, even as its Truth Social platform loses money. Treasury yields fell.
On Wednesday:
The S&P 500 rose 44.91 points, or 0.9%, to 5,248.49.
The Dow Jones Industrial Average rose 477.75 points, or 1.2%, to 39,760.08.
The Nasdaq composite rose 83.82 points, or 0.5%, to 16,399.52.
The Russell 2000 index of smaller companies rose 44.19 points, or 2.1%, to 2,114.35.