On Wednesday, the stock market concluded on a positive note as traders eagerly awaited the release of fresh U.S. inflation data and earnings reports.
The S&P 500 registered a 0.57% gain, closing at 4,783.45, while the Dow Jones Industrial Average closed 170.57 points higher, or 0.45%, at 37,695.73. Similarly, the Nasdaq Composite saw an increase of 0.75%, settling at 14,969.65.
Contributing to the rise of the broad market index were Intuitive Surgical and Lennar, which experienced gains of 10.3% and 3.5%, respectively. Intuitive Surgical adjusted its procedure growth outlook for fiscal year 2024 after Tuesday’s market close, while Lennar announced an increase in its annual dividend.
Phillip Colmar, the managing partner and global strategist at MRB Partners, shared his perspective, stating, “We’re currently in a period of relative calm, with an impending realization on the horizon.” He further noted that market activity remained relatively subdued due to the market’s anticipation of interest rate cuts by the Federal Reserve before the year’s end.
Source (CNBC)
