Wall Street closed out March with a mostly higher finish for U.S. stock indexes and the market’s fourth straight quarterly gain.
The S&P 500 rose 0.4 percent Wednesday, bringing its gain for the first three months of the year to 5.8 percent, despite a loss for January. The gain for the benchmark index, which tracks large U.S. companies, was eclipsed by the 12.4 percent jump in a popular index that tracks small- company stocks.
Technology stocks powered much of S&P 500’s latest gains, even though more stocks in the index fell than rose. Solid gains by Apple, Microsoft and Nvidia, and companies that rely on consumer spending, outweighed a pullback in financial, energy and materials stocks.
After the stock market closed, President Joe Biden started a speech in which he’ll discuss his plan to spend $2 trillion on strengthening the nation’s infrastructure, and how to pay for it.
The S&P 500 rose 14.34 points to 3,972.89. It was the index’s first gain since it set a record high at the end of last week. A late- afternoon fade pulled the Dow Jones Industrial Average 85.41 points lower, or a drop of 0.3 percent, to 32,981.55. The tech-heavy Nasdaq composite climbed 201.48 points, or 1.5 percent, to 13,246.87.