/usr/web/www.marshallindependent.com/wp-content/themes/coreV2/single.php
×

S&P 500 sets a record after Wall Street breaks out of its lull

NEW YORK — U.S. stocks rose to a record Wednesday after breaking out of their three-day lull.

The S&P 500 climbed 44.91 points, or 0.9%, to 5,248.49. It was the first gain for the index since setting its last all-time high on Thursday.

The Dow Jones Industrial Average jumped 477.75, or 1.2%, to 39,760.08, and the Nasdaq composite gained 83.82, or 0.5%, to 16,399.52. Both finished a bit shy of their own records.

Merck climbed 5% after federal regulators approved its treatment for adults with pulmonary arterial hypertension, a rare disease where blood vessels in the lungs thicken and narrow.

Cintas, a provider of work uniforms and office supplies, was another force pushing the S&P 500 upward. It jumped 8.2% after reporting stronger profit for the latest quarter than analysts expected.

Shares of Trump Media & Technology Group, meanwhile, continued their wild ride and rose another 14.2%. The company behind the money-losing Truth Social platform has zoomed well beyond what critics say is rational, as fans of former president Donald Trump keep pushing it higher.

Robinhood Markets climbed 3.7% after unveiling its first credit card, which is reserved for its subscription-paying Gold members, along with other new products.

Newsletter

Today's breaking news and more in your inbox

Today's breaking news and more in your inbox
Are you a paying subscriber to the newspaper? *
   

Starting at $4.38/week.

Subscribe Today