Stocks closed higher on Wall Street as investors wait for updates on inflation and corporate profits.
The S&P 500 rose 0.7% Tuesday after another quiet day of trading. The Dow rose 316 points, or 0.9%, and the Nasdaq composite rose 0.6%. The week’s main event arrives Wednesday when the government offers the latest update on inflation in consumer prices.
The hope on Wall Street is that a continued easing in inflation will convince the Federal Reserve to stop raising interest rates. Activision Blizzard jumped 10% after a judge ruled Microsoft could move forward on its takeover of the video game maker.
On Tuesday:
The S&P 500 rose 29.73 points, or 0.7%, to 4,439.26.
The Dow Jones Industrial Average rose 317.02 points, or 0.9%, to 34,261.42.
The Nasdaq composite rose 75.22 points, or 0.5%, to 13,760.70.
The Russell 2000 index of smaller companies rose 18.11 points, or 1%, to 1,913.36.
For the week:
The S&P 500 is up 40.31 points, or 0.9%.
The Dow is up 526.54 points, or 1.6%.
The Nasdaq is up 99.98 points, or 0.7%.
The Russell 2000 is up 48.70 points, or 2.6%.
For the year:
The S&P 500 is up 599.76 points, or 15.6%.
The Dow is up 1,114.17 points, or 3.4%.
The Nasdaq is up 3,294.22 points, or 31.5%.
The Russell 2000 is up 152.12 points, or 8.6%.