Stocks closed mostly higher on Wall Street Wednesday as a benign reading on inflation led to long-term interest rates easing lower in the bond market.

The S&P 500 added 0.6%, but a pullback in Big Tech stocks pulled the Nadsaq down slightly. The Dow Jones Industrial Average closed at a record high. A key measure of inflation came in lower than expected for February, helping to allay concerns that prices could rise too quickly as the economy recovers. The yield on the 10-year Treasury note fell.

On Wednesday:

The S&P 500 rose 23.37 points, or 0.6%, to 3,898.81.

The Dow Jones Industrial Average rose 464.28 points, or 1.5%, to 32,297.02.

The Nasdaq fell 4.99 points, or less than 0.1%, to 13,068.83.

The Russell 2000 index of smaller companies rose 40.62 points, or 1.8% to 2,285.68.

For the week:

The S&P 500 is up 56.87 points, or 1.5%.

The Dow is up 800.72 points, or 2.5%.

The Nasdaq is up 148.68 points, or 1.2%.

The Russell 2000 is up 93.47 points, or 4.3%.

For the year:

The S&P 500 is up 142.74 points, or 3.8%.

The Dow is up 1,690.54 points, or 5.5%.

The Nasdaq is up 180.55 points, or 1.4%.

The Russell 2000 is up 310.83 points, or 15.7%.