Stocks ended a wobbly day on Wall Street with mixed results Wednesday as investors weighed the latest corporate earning reports and the Federal Reserve chair’s comments on inflation.
Technology companies made broad gains, while banks were mostly weaker after several of them reported their quarterly results. American Airlines rose after giving investors a strong outlook. Energy companies had some of the biggest losses, partly due to a drop in the price of benchmark U.S. crude oil.
Federal Reserve Chair Jerome Powell reaffirmed the central bank’s position that inflation will eventually ease.
The S&P 500 rose 5.09 points, or 0.1%, to 4,374.30.
The Dow Jones Industrial Average rose 44.44 points, or 0.1%, to 34,933.23.
The Nasdaq fell 32.70 points, or 0.2%, to 14,644.95.
The Russell 2000 index of smaller companies fell 36.51 points, or 1.6%, to 2,202.36.
For the week:
The S&P 500 is up 4.75 points, or 0.1%.
The Dow is up 63.07 points, or 0.2%.
The Nasdaq is down 56.97 points, or 0.4%.
The Russell 2000 is down 77.65 points, or 3.4%.
For the year:
The S&P 500 is up 618.23 points, or 16.5%.
The Dow is up 4,326.75 points, or 14.1%.
The Nasdaq is up 1,756.67 points, or 13.6%.
The Russell 2000 is up 227.50 points, or 11.5%.