U.S. stocks climbed following strong profit reports from SpaceX, Capital One Financial and other big companies.
The S&P 500 added 0.6% Wednesday and pulled closer to the all-time high it set earlier this month. The Dow Jones Industrial Average added 0.7%, and the Nasdaq composite climbed 1.1%.
A much better profit report from SpaceX than analysts expected helped lift several other AI-related stocks, along with Elon Musk’s other public company, Tesla. That made up for losses by Netflix and other stocks hurt by worries about upcoming growth.
On Wednesday:
The S&P 500 rose 44.60 points, or 0.6%, to 7,757.17.
The Dow Jones Industrial Average rose 360.21 points, or 0.7%, to 52,856.09.
The Nasdaq composite rose 278.04 points, or 1.1%, to 26,702.86.
The Russell 2000 index of smaller companies rose 7.60 points, or 0.3%, to 2,781.02.
For the week:
The S&P 500 is up 97.73 points, or 1.3%.
The Dow is up 853.68 points, or 1.6%.
The Nasdaq is up 562.82 points, or 2.2%.
The Russell 2000 is up 59.65 points, or 2.2%.
For the year:
The S&P 500 is up 911.67 points, or 13.3%.
The Dow is up 4,792.80 points, or 10%.
The Nasdaq is up 3,460.87 points, or 14.9%.
The Russell 2000 is up 299.11 points, or 12.1%.
