Wall Street experienced a rebound as fresh inflation data suggested that the Federal Reserve might provide additional support to the economy. On Wednesday, the S&P 500 rose by 0.8%, halting a two-day decline and coming close to its all-time high. Leading this upward momentum were major technology stocks, which propelled the Nasdaq composite up by 1.8%, marking its first time surpassing the 20,000 landmark. However, the Dow Jones Industrial Average fell slightly, down by 0.2%. The market responded positively as expectations increased that the Fed will announce another interest rate cut in its upcoming meeting.

On Wednesday’s trading session, the S&P 500 increased by 49.28 points, or 0.8%, finishing at 6,084.19. The Dow Jones Industrial Average saw a decrease of 99.27 points, equating to a 0.2% drop, ending at 44,148.56. In contrast, the Nasdaq composite gained 347.65 points, which is a rise of 1.8%, concluding at 20,034.89. The Russell 2000 index, which tracks smaller companies, also saw a slight increase, up by 11.38 points or 0.5%, reaching 2,394.16.

Looking at the broader week, the S&P 500 has experienced a minor decline, down by 6.08 points or 0.1%. Meanwhile, the Dow is down by 493.96 points, translating to a 1.1% decrease. On a positive note, the Nasdaq has added 175.12 points or 0.9% to its standings. The Russell 2000 index, however, is down by 14.84 points or 0.6%.

Year-to-date performances show the S&P 500 with a significant increase of 1,314.36 points or 27.6%. The Dow has added 6,459.02 points, which represents a 17.1% increase. The Nasdaq has surged by 5,023.54 points or 33.5%, while the Russell 2000 index has risen by 367.09 points or 18.1%.