The stock market rose for a third straight day Wednesday despite a report from the Federal Reserve that showed a growing chorus of central bank officials willing to raise interest rates sooner rather than later. In the bond market, prices fell and yields rose as investors prepared themselves for higher interest rates.
The Dow Jones industrial average rose 59.54 points, or 0.4 per cent, to 16,979.13.
The Standard & Poor’s 500 index rose 4.91 points, or 0.3 per cent, to close at 1,986.51.
The Nasdaq composite fell 1.03 points, or 0.02 per cent, to 4,526.48.
For the week:
The Dow is up 316.22 points, or 1.9 per cent.
The S&P 500 index is up 31.45 points, or 1.6 per cent.
The Nasdaq is up 61.56 points, or 1.4 per cent
For the year:
The Dow is up 402.47 points, or 2.4 per cent.
The S&P 500 index is up 138.15 points, or 7.5 per cent.
The Nasdaq is up 349.89 points, or 8.4 per cent.