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Stocks closed broadly higher Wednesday as a batch of solid company earnings and news that the U.S. and European Union agreed to work on mending their trade dispute put investors in a buying mood.
Technology companies led the rally, which gave the S&P 500 its third consecutive gain in a row and nudged the Nasdaq composite index to an all-time high. Homebuilders slumped on government data showing sales of new U.S. homes fell in June.
On Wednesday:
The S&P 500 index rose 25.67 points, or 0.9 per cent, to 2,846.07.
The Dow Jones Industrial Average gained 172.16 points, or 0.7 per cent, to 25,414.10.
The Nasdaq composite index added 91.47 points, or 1.2 per cent, to 7,932.24.
The Russell 2000 index of smaller-company stocks picked up 5.01 points, or 0.3 per cent, to 1,685.20.
For the week:
The S&P 500 is up 44.24 points, or 1.6 per cent.
The Dow is up 355.98 points, or 1.4 per cent.
The Nasdaq is up 112.04 points, or 1.4 per cent.
The Russell 2000 is down 11.60 points, or 0.7 per cent.
For the year:
The S&P 500 is up 172.46 points, or 6.5 per cent.
The Dow is up 694.88 points, or 2.8 per cent.
The Nasdaq is up 1,028.85 points, or 14.9 per cent.
The Russell 2000 is up 149.69 points, or 9.7 per cent.
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