Highlights
Stocks made modest gains Wednesday with the S&P 500 and Nasdaq setting new closing record highs amid ongoing optimism about US-Iran peace talks. The Dow Jones industrial average firmed by 0.2 percent, the S&P 500 rose 0.3 percent and the Nasdaq was up 0.4 percent. Oil prices edged up while bond yields and the dollar rose.
Upbeat economic indicators provided a supportive backdrop with jobless claims lower than expected, which bolstered the view that the job market remains resilient, and a stronger than expected Philadelphia Fed manufacturing report for April, although it did show rising inflation pressure.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.