Stocks were little-changed Wednesday, with the the S&P 500 trading around highest closing levels since August 2022.
The S&P 500 ticked down 0.2%. The Dow Jones Industrial Average added 16 points, or 0.05%, while the Nasdaq Composite declined almost 1%.
Energy was the best-performing S&P 500 sector, rising 2.3%. The SPDR S&P Oil & Gas Exploration & Production ETF and First Trust Natural Gas ETF added 3.5% and 3.3%, respectively. The tail-end of earnings season pressed on with results from Dave & Buster's and Stitch Fix. Dave & Buster's gained 21%, while Stitch Fix added more than 32%.
Stocks have been boosted recently as the promise of artificial intelligence lifts tech stocks. Over the past three months, the S&P 500 is up more than 7%.
However, Crossmark Global Investments chief investment officer Bob Doll warned that despite the market rally in recent days, more impact from the Fed's interest rate hikes are likely to be felt in the future.
Source : CNBC
