Stocks rose after a report showed U.S. inflation was not as bad last month as economists expected. Tuesday’s gains came even though oil prices continue to climb on worries that the United States and Iran may return to all-out war.
The S&P 500 rose 0.4%, the Dow Jones Industrial Average edged up less than 0.1%, and the Nasdaq composite gained 0.9%.
Stocks got a lift from easing yields in the bond market, which fell following the better-than-expected inflation data. Chip stocks and other AI winners rebounded, while big U.S. banks reported strong profits. IBM was an outlier and fell sharply.
On Tuesday:
The S&P 500 rose 28.25 points, or 0.4%, to 7,543.59.
The Dow Jones Industrial Average rose 9.63 points, or less than 0.1%, to 52,508.27.
The Nasdaq composite rose 233.83 points, or 0.9%, to 26,107.01.
The Russell 2000 index of smaller companies rose 11.60 points, or 0.4%, to 2,964.76.
For the week:
The S&P 500 is down 31.80 points, or 0.4%.
The Dow is down 128.74 points, or 0.2%.
The Nasdaq is down 174.60 points, or 0.7%.
The Russell 2000 is down 13.04 points, or 0.4%.
For the year:
The S&P 500 is up 698.09 points, or 10.2%.
The Dow is up 4,444.98 points, or 9.2%.
The Nasdaq is up 2,865.02 points, or 12.3%.
The Russell 2000 is up 482.86 points, or 19.5%.
