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May 16, 2024

Stocks close at new records

By STAN CHOE
AP Business Writer

NEW YORK — Hopes that inflation is finally heading back in the right direction swept through Wall Street Wednesday and ignited a record-setting rally for U.S. stocks.

The S&P 500 jumped 1.2% to top its prior high set a month and a half ago. The Nasdaq composite added 1.4% to its own record set a day earlier, and the Dow Jones Industrial Average gained 349 points, or 0.9%, to beat its all-time high set in March.


 
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