Modest gain breaks a 3-day losing streak for S&P 500 index

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Major stock indexes closed mostly higher Wednesday, snapping a three-day losing streak for the S&P 500 despite another choppy day of trading. The benchmark index rose 0.3% after having been down 0.5% in the early going. It's still on pace for a 0.6% weekly loss. The Dow Jones Industrial Average
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Major stock indexes closed mostly higher Wednesday, snapping a three-day losing streak for the S&P 500 despite another choppy day of trading.

The benchmark index rose 0.3% after having been down 0.5% in the early going. It's still on pace for a 0.6% weekly loss. The Dow Jones Industrial Average ended flat, while the Nasdaq rose 0.7%.

Most of the S&P 500′s 11 sectors rose, with technology and communication accounting for a big share of the gains. A mix of companies that rely on consumer spending also helped lift the market. Financial and energy companies fell.

Investors had their eye on company earnings and inflation data. They also got more insight into the Federal Reserve's next policy moves after the central bank released the minutes from its policymakers' meeting last month.

The minutes, which revealed Fed officials discussed how the central bank might begin to taper the unprecedented financial support it has been giving the economy since the early days of the pandemic, may have helped give the market an afternoon boost after its downbeat start, said J.J. Kinahan, chief strategist with TD Ameritrade.

"You're starting to get a framework of how they're going to go about it, and the market is really just desperate for some clarity," he said. "At…
Associated Press
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