Stocks drifted to a mostly higher close following a strong report on consumer confidence and growing hopes that the Federal Reserve is finished with its aggressive interest rate hikes.
The S&P 500 rose 0.1% Tuesday. The Dow Jones Industrial Average added 83 points and the Nasdaq $NDAQ composite climbed 0.3%.
Treasury yields fell after Christopher Waller, a member of the Federal Reserve’s Board of Governors, said he was ‘increasingly confident’ that the Fed could get inflation back down to its 2% target. The Conference Board’s November consumer confidence survey came in higher than analysts were expecting.
On Tuesday:
The S&P 500 rose 4.46 points, or 0.1%, to 4,554.89
The Dow Jones Industrial Average rose 83.51 points, or 0.2%, to 35,416.98.
The Nasdaq composite rose 40.73 points, or 0.3%, to 14,281.76.
The Russell 2000 index of smaller companies fell 8.35 points, or 0.5% to 1,792.81.
For the week:
The S&P 500 is down 4.45 points, or 0.1%.
The Dow is up 26.83 points, or 0.1%.
The Nasdaq is up 30.90 points, or 0.2%.
The Russell 2000 is down 14.69 points, or 0.8%.
For the year:
The S&P 500 is up 715.39 points, or 18.6%.
The Dow is up 2,269.73 points, or 6.8%.
The Nasdaq is up 3,815.27 points, or 36.5%.
The Russell 2000 is up 31.56 points, or 1.8%.