S&P 500 Gets Late-Day Boost to Finish at Record: Markets Wrap
- Stock gauge is up 10% in first quarter, largely beating bonds
- Goldman sees pension funds offloading $32 billion of stocks
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Wall Street traders sent stocks higher in the final stretch of a quarter that saw the market surge 10%, with many institutional investors potentially rebalancing their portfolios.
In another volatile session, the S&P 500 closed at a record after almost erasing gains earlier Wednesday. Apple Inc. and Tesla Inc. — this year’s laggards in the megacap space — climbed, while Nvidia Corp. fell. The Dow Jones Industrial Average added over 1%. The Nasdaq 100 underperformed. Treasuries rose, with the market set to close at 2 p.m. New York time on Thursday before the holiday.