U.S. stocks closed broadly higher Wednesday, led by solid gains in big technology companies.
Investors welcomed remarks from Federal Reserve chair Janet Yellen before a Congressional committee. Yellen raised the possibility that the Fed would consider slowing the pace of its interest rate increases if inflation remains persistently below its target level.
The Standard & Poor’s 500 index rose 17.72 points, or 0.7 percent, to 2,443.25.
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The Dow Jones industrial average gained 123.07 points, or 0.6 percent, to 21,532.14, a record.
The Nasdaq composite added 67.87 points, or 1.1 percent, to 6,261.17.
The Russell 2000 index of smaller-company stocks picked up 11.27 points, or 0.8 percent, to 1,424.32.
For the week:
The S&P 500 is up 18.07 points, or 0.8 percent.
The Dow is up 117.80 points, or 0.6 percent.
The Nasdaq is up 108.09 points, or 1.8 percent.
The Russell 2000 is up 8.49 points, or 0.6 percent.
For the year:
The S&P 500 is up 204.42 points, or 9.1 percent.
The Dow is up 1,769.54 points, or 9 percent.
The Nasdaq is up 878.05 points, or 16.3 percent.
The Russell 2000 is up 67.19 points, or 5 percent.