Stocks overcame an early stumble and closed broadly higher Wednesday as the market more than made up its losses from a day earlier.
Banks and retailers accounted for a big slice of the rally. Investors continued to shift money into U.S. government bonds, keeping long-term yields below short-term ones. The so-called inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.
The S&P 500 rose 18.78 points, or 0.7%, to 2,887.94.
The Dow Jones Industrial Average climbed 258.20 points, or 1%, to 26,036.10.
The Nasdaq gained 29.94 points, or 0.4%, to 7,856.88.
The Russell 2000 index of smaller company stocks added 16.67 points, or 1.1%, to 1,472.71.
For the week:
The S&P 500 is up 40.83 points, or 1.4%.
The Dow is up 407.20 points, or 1.6%.
The Nasdaq is up 105.12 points, or 1.4%.
The Russell 2000 is up 13.23 points, or 0.9%.
For the year:
The S&P 500 is up 381.09 points, or 15.2%.
The Dow is up 2,708.64 points, or 11.6%.
The Nasdaq is up 1,221.60 points, or 18.4%.
The Russell 2000 is up 124.15 points, or 9.2%.