U.S. stocks broke out of a three-day lull to close at a record. The S&P 500 added 0.9% Wednesday, beating the all-time high it set last week. The Dow Jones Industrial Average climbed 1.2%, and the Nasdaq composite added 0.5%. The Dow and Nasdaq closed just short of their own records.
People walk past the New York Stock Exchange Wednesday, March 27, 2024. World shares are mixed after Wall Street slipped a bit further from its record highs. The S&P 500 climbed 44.91 points, or 0.9%, to 5,248.49. It was the first gain for the index since setting its last all-time high on Thursday.
Cintas, a provider of work uniforms and office supplies, was another force pushing the S&P 500 upward. It jumped 8.2% after reporting stronger profit for the latest quarter than analysts expected. GameStop tumbled 15% after delivering a profit for the latest quarter and a drop in revenue from the prior year. It’s the original meme stock, predating Trump Media by years, where its price has often moved more on the sentiment of smaller-pocketed investors than on traditional fundamentals like its profit and revenue.The yield on the 10-year Treasury fell to 4.19% from 4.23% late Tuesday.
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