Stocks rose broadly Wednesday after the Federal Reserve lowered interest rates for the third time this year.
The central bank also indicated that it won’t cut rates again in the coming months unless the economic outlook worsens. Technology and health care stocks drove most of the gains, which were enough to push the S&P 500 to its second record high this week. Bond yields fell.
The S&P 500 index rose 9.88 points, or 0.3%, to 3,046.77.
The Dow Jones Industrial Average gained 115.27, or 0.4%, to 27,186.69.
The Nasdaq composite added 27.12 points, or 0.3%, to 8,303.98.
The Russell 2000 index of smaller companies fell 4.23 points, or 0.3%, to 1,572.85.
For the week:
The S&P 500 is up 24.22 points, or 0.8%.
The Dow is up 228.63 points, or 0.8%.
The Nasdaq is up 60.86 points, or 0.7%.
The Russell 2000 is up 14.14 points, or 0.9%.
For the year:
The S&P 500 is up 539.92 points, or 21.5%.
The Dow is up 3,859.23 points, or 16.5%.
The Nasdaq is up 1,668.70 points, or 25.1%.
The Russell 2000 is up 224.29 points, or 16.6%.
The Associated Press