Wall Street surged on Wednesday as traders cheered a pullback in oil prices and the lack of escalation in the Middle East, particularly regarding potential Israeli retaliation against Iran.
The broader market gains reflected optimism ahead of Thursday’s Consumer Price Index inflation report and the start of third-quarter earnings season.
S&P 500 Sets New Record
The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), climbed 0.8% to a fresh record high, closing at 5,792 points, near its intraday peak.
Blue-chip stocks also rallied, with the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) ending the day at 42,512 points, up 1%, just shy of its all-time high of 42,628 reached in late September.
The tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust ...
