U.S. stocks broke out of a three-day lull and closed at another record high.
The S&P 500 added 0.9 percent Wednesday, beating the all-time high it set last week. The Dow Jones Industrial Average climbed 1.2 percent, and the Nasdaq composite added 0.5 percent. The Dow and Nasdaq closed just short of their own records.
Merck helped push the market higher after winning federal approval for its treatment for a rare disease affecting blood vessels. Trump Media & Technology Group continued its wild ride and shot higher again in its second day of trading, even as its Truth Social platform loses money. Treasury yields fell.
On Wednesday:
The S&P 500 rose 44.91 points, or 0.9 percent, to 5,248.49.
The Dow Jones Industrial Average rose 477.75 points, or 1.2 percent, to 39,760.08.
The Nasdaq composite rose 83.82 points, or 0.5 percent, to 16,399.52.
The Russell 2000 index of smaller companies rose 44.19 points, or 2.1 percent, to 2,114.35.
For the week:
The S&P 500 is up 14.31 points, or 0.3 percent.
The Dow is up 284.18 points, or 0.7 percent.
The Nasdaq is down 29.30 points, or 0.2 percent.
The Russell 2000 is up 42.35 points, or 2 percent.
For the year:
The S&P 500 is up 478.66 points, or 10 percent.
The Dow is up 2,070.54 points, or 5.5 percent.
The Nasdaq is up 1,388.17 points, or 9.2 percent.
The Russell 2000 is up 87.27 points, or 4.3 percent.
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