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All three major U.S. stock indexes logged back-to-back gains on Wednesday after an unexpectedly weak private-sector hiring report helped solidify expectations for a quarter-point interest-rate cut from the Federal Reserve next week.
The latest advance brought the S&P 500 and Dow Jones Industrial Average to within striking distance of their record highs, while the Nasdaq wasn’t far behind.
The Dow
DJIA finished higher by 408.44 points, or 0.9%, at 47,882.90, the third-highest closing level in its history. The blue-chip gauge is now within 0.8% of its record high of 48,254.82 set on Nov. 18, Dow Jones Market Data showed.
