Stocks Rise as S&P 500, Nasdaq Top Records Again: Markets Wrap
- Euro falls as ECB gathers ahead of Thursday’s rate decision
- Oil gains; dollar steadies after Tuesday slump on healthcare
Three Must-See Charts About This Quarter's Earnings
Stocks surged Wednesday on earnings strength, with the S&P 500 Index and Nasdaq Composite Index hitting records for a second straight day. The euro retraced some recent gains as European policy makers gathered in Frankfurt before Thursday’s decision on interest rates. Oil advanced.
Every S&P 500 sector was higher, with energy stocks and materials companies pacing the rise. Vertex Pharmaceuticals Inc. led gainers, adding more than 20 percent after reporting promising results for its cystic fibrosis treatment. Technology remained hot as well, with the Nasdaq 100 Index also reaching an all-time high. The Dow Jones Industrial Average was up as well, but IBM, which reported disappointing quarterly sales, weighed on the index.