Stocks rose for a second day Wednesday, with the S&P 500 jumping to a new record, as technology stocks powered higher and investors shook off geopolitical concerns.
The Dow Jones Industrials hiked 397.79 points, or 1%, to 42,478.16.
The much-broader index jumped 38.73 points to 5,789.86.
The NASDAQ Composite regained 115.19 points to 18,298.10.
Technology stocks spearheaded the rally, with Microsoft, Amazon and Apple last up 1% each. Super Micro Computer rallied 7%. Wednesday’s gains helped correct a bumpy start to October, pushing the major averages into positive territory for the month.
U.S.-listed China stocks struggled as investors took profits from the recent stimulus-fueled rally. Elsewhere, Boeing lost 3% after union negotiations ended without a deal and the company pulled its contract offer.
On the economic front, investors are anticipating the latest meeting minutes from the Fed on Wednesday, due at 2 p.m. ET. The September consumer price index is to be released Thursday and producer price index reading is due out Friday.
Earnings season kicks off Friday with the big banks JPMorgan Chase and Wells Fargo.
Prices for the 10-year Treasury lost ground, raising yields 4.05% from Tuesday’s 4.02%. Treasury prices and yields move in opposite directions.
Oil prices dipped 26 cents to $73.31 U.S. a barrel.
Gold prices fell back $2.50 to $2,632.90 U.S. an ounce
