U.S. stocks turned higher Wednesday after the Federal Reserve indicated it’s not in a hurry to raise interest rates too quickly. Retailers and technology companies led the way as the market erased some early losses.
The S&P 500 index picked up 8.85 points, or 0.3 percent, to 2,733.29.
The Dow Jones industrial average added 52.40 points, or 0.2 percent, to 24,886.81.
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The Nasdaq composite jumped 47.50 points, or 0.6 percent, to 7,425.96.
The Russell 2000 index of smaller-company stocks edged up 2.37 points, or 0.1 percent, to 1,627.61.
For the week:
The S&P 500 is up 20.32 points, or 0.7 percent.
The Dow is up 171.72 points, or 0.7 percent.
The Nasdaq is up 71.62 points, or 1 percent.
The Russell 2000 is up 0.98 points, or 0.1 percent.
For the year:
The S&P 500 is up 59.68 points, or 2.2 percent.
The Dow is up 167.59 points, or 0.7 percent.
The Nasdaq is up 522.56 points, or 7.6 percent.
The Russell 2000 is up 92.10 points, or 6 percent.