(Bloomberg) — Wall Street traders sent stocks higher in the final stretch of a quarter that saw the market surge 10%, with many institutional investors potentially rebalancing their portfolios.
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In another volatile session, the S&P 500 closed at a record after almost erasing gains earlier Wednesday. Apple Inc. and Tesla Inc. — this year’s laggards in the megacap space — climbed, while Nvidia Corp. fell. The Dow Jones Industrial Average added over 1%. The Nasdaq 100 underperformed. Treasuries rose, with the market set to close at 2 p.m. New York time on Thursday before the holiday.
“The S&P 500 continues to defy all of the naysayers and closed at another record,” said Chris Zaccarelli at Independent Advisor Alliance. “Despite the fact that inflation has remained stubbornly high, investors are more impressed with the state of the economy and the resilient consumer than they are worried about Fed rate…
