U.S. stocks rose modestly Wednesday as traders weighed questions on the economy and the release of the Federal Reserve’s latest meeting minutes.
The S&P 500 rose 0.3% and the Dow Jones Industrial Average moved higher 0.2%, adding to modest gains before the meeting minutes were released.
Tuesday, both indexes fell from recent all-time closing highs. The Nasdaq Composite was down less than 0.1%, putting the index of large-cap technology stocks at risk of ending its recent winning streak.
Investors have propelled the major indexes into record territory as the economy has recovered from the pandemic-induced recession, jumping from one asset class to another—tech stocks, growth stocks, value stocks, bonds, even bitcoin—in search of the best returns.
While investors have been encouraged by the Federal Reserve, which has said it doesn’t plan to pull back on supportive policies in the near term, the central bank’s monetary policy has sparked a bout of inflation that is driving both supply and labor shortages, and could curtail the economy’s growth. That is complicating the picture for investors.