Stocks rose modestly on Wall Street after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shore up the economy.
The bond market had a more pronounced reaction to the Fed’s announcement Wednesday. The yield on the 10-year Treasury note fell to 2.03%, its lowest level since November 2016.
On Wednesday:
The S&P 500 rose 8.71 points, or 0.3%, to 2,926.46.
The Dow Jones Industrial Average gained 38.46 points, or 0.1%, to 26,504.
The Nasdaq composite added 33.44 points, or 0.4%, to 7,987.32.
The Russell 2000 index of smaller companies picked up 5.35 points, or 0.3%, to 1,555.58.
For the week:
The S&P 500 is up 39.48 points, or 1.4%.
The Dow is up 414.39 points, or 1.6%.
The Nasdaq is up 190.66 points, or 2.4%.
The Russell 2000 is up 33.08 points, or 2.2%.
For the year:
The S&P 500 is up 419.61 points, or 16.7%.
The Dow is up 3,176.54 points, or 13.6%.
The Nasdaq is up 1,352.05 points, or 20.4%.
The Russell 2000 is up 207.02 points, or 15.4%.
