S&P 500 rises slightly as index approaches record high
The S&P 500 rose slightly on Wednesday as investors watched to see if the benchmark index could return to its all-time high.
The broad market index advanced 0.2%, while the Nasdaq Composite popped 0.6%. The Dow Jones Industrial Average slipped 47 points, or 0.1%.
The S&P 500 traded less than 1% below 6,147.43, the intraday record set on Feb. 19. It was also within reach of its closing all-time high of 6,144.15. On top of that, the Nasdaq traded less than 1% from its peak reached in December.
Wall Street’s move toward record levels comes as trade tensions have eased and a ceasefire in the Middle East between Iran and Israel has taken hold for the moment.
Week to date, the S&P 500 is up 2% after a tamer-than-expected Iranian response to U.S. attacks over the weekend. The following ceasefire — announced by President Donald Trump — also boosted equities, as investors breathed a sigh of relief that the conflict wouldn’t disrupt global crude supply.
Source: CNBC
