S&P 500 Overcomes Fading Risk-On Rally to Hit New Record High
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks pushed on to fresh record highs Wednesday, gaining steam into the close on growing conviction that the Federal Reserve will start cutting interest rates again next month.
The S&P 500 Index closed with a 0.3% advance, bouncing back after the rally briefly fizzled mid-day. The Nasdaq 100 Index was little changed but managed to find its way into the green to finish at a record. Meanwhile, the small-cap Russell 2000 Index gained 2.0%.