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US stocks closed higher on Wednesday, with the Dow Jones Index rising over 150 points. The S&P 500 gained 0.57% to end at 4,783.45, while the Dow Jones industrial average added 170.57 points to close at 37,695.73.
The Nasdaq Composite advanced 0.75% to settle at 14,969.65. Intuitive Surgical and Lennar boosted the broad market index, gaining 10.3% and 3.5%, respectively.
The market is muted due to the Federal Reserve’s planned interest rate cuts, which could trigger concerns about volatility spilling back into the stock market. Investors await the latest consumer price index report, which is expected to rise 3.2% year over year in December.
The producer price index is due on Friday. Investors will look through the reports for clues on when the Federal Reserve may start cutting rates. The market is seeing a tug of war between those who see slower economic growth and those who see a more difficult economic pullback.
Earnings from big financial heavyweights like JPMorgan Chase, Bank of America, UnitedHealth, and Delta Air Lines are heating up earnings. After a mixed morning, the S&P 500 and Dow ended Tuesday’s trading session lower, while the Nasdaq recorded minor gains.
