U.S. stocks hung near their all-time high as financial markets caught a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the global flow of crude oil.
The S&P 500 barely budged on Wednesday and is sitting just 0.8 percent below its all-time high. The Dow Jones Industrial Average dipped 0.2 percent, and the Nasdaq composite rose 0.3 percent.
Oil prices stabilized after plunging by roughly $10 per barrel in the prior two days. Stock indexes fell modestly in Europe after rising in Asia, and Treasury yields held relatively steady in the bond market.
On Wednesday:
The S&P 500 fell 0.02 points, or less than 0.1 percent, to 6,092.16.
The Dow Jones Industrial Average fell 106.59 points, or 0.2 percent, to 42,982.43.
The Nasdaq composite rose 61.02 points, or 0.3 percent, to 19,973.55.
The Russell 2000 index of smaller companies fell 25.03 points, or 1.2 percent, to 2,136.18.
For the week:
The S&P 500 is up 124.32 points, or 2.1 percent.
The Dow is up 775.61 points, or 1.8 percent.
The Nasdaq is up 526.14 points, or 2.7 percent.
The Russell 2000 is up 26.92 points, or 1.3 percent.
For the year:
The S&P 500 is up 210.53 points, or 3.6 percent.
The Dow is up 438.21 points, or 1 percent.
The Nasdaq is up 662.76 points, or 3.4 percent.
The Russell 2000 is down 93.97 points, or 4.2 percent.
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