NEW YORK (AP) — Investors saw some new hints that inflation is increasing on Wednesday, but they still sent banks, technology firms, and consumer-focused companies higher. That was a big change after the market's inflation-inspired plunge earlier this month.
The Standard & Poor's 500 index gained 35.69 points, or 1.3 percent, to 2,698.63.
The Dow Jones industrial average picked up 253.04 points, or 1 percent, to 24,893.49.
The Nasdaq composite advanced 130.10 points, or 1.9 percent, to 7,143.62.
The Russell 2000 index of smaller-company stocks finished up 27.15 points, or 1.8 percent, to 1,522.10.
For the week:
The S&P 500 is up 79.08 points, or 3 percent.
The Dow is up 702.59 points, or 2.9 percent.
The Nasdaq is up 269.12 points, or 3.9 percent.
The Russell 2000 is up 44.26 points, or 3 percent.
For the year:
The S&P 500 is up 25.02 points, or 0.9 percent.
The Dow is down 174.27 points, or 0.7 percent.
The Nasdaq is up 240.22 points, or 3.5 percent.
The Russell 2000 is down 13.41 points, or 0.9 percent.