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Close Update: Stocks Post Gains as Real Estate, Technology Sectors Pace S&P 500


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Most major US stock indexes closed higher Wednesday, rebounding from the previous session's slump, as the tech-heavy Nasdaq Composite Index outpaced other market gauges.

The Nasdaq climbed 0.7% while the S&P 500 gained 0.4%. The Dow Jones Industrial Average lagged, rising about 7 points, held back by losses in Boeing ( BA ), UnitedHealth Group ( UNH ) and Dow ( DOW ). Real estate and tech were the best performing sectors in the S&P 500.

The Federal Reserve released the minutes for the March Federal Open Market Committee's meeting Wednesday afternoon, which showed that policymakers expect to leave the target range for the federal funds rate unchanged for the rest of the year. The Fed has shifted its stance from rate hikes last year to leaving rates unchanged this year as economic growth has slowed.

In economic news, the consumer price index rose 0.4% in March, compared with a 0.3% gain that was expected and the previous month's 0.2% rise, according to data compiled by Econoday.

On Thursday, producer price data will be released along with initial jobless claims.

US MARKETS

Dow Jones Industrial Average was up 6.58 points (+0.03%)

S&P 500 was up 10.01 points (+0.35%)

Nasdaq Composite Index was up 55.51 points (+0.70%)

GLOBAL SENTIMENT

FTSE 100 was down 3.66 points (-0.05%) to 7,421.91

Hang Seng Index was down 37.93 points (-0.13%) to 30,119.56

Shanghai China Composite Index was up 2.27 points (+0.07%) to 3,241.93

UPSIDE MOVERS

(+) TEVA (+0.76%) Signs $2.3 billion revolving credit facility

(+) CAG (+6.7%) Affirms 2019 guidance, 2020 guidance straddles expectations

(+) IZEA (+7.84%) Q1 bookings jumps 18% YoY

DOWNSIDE MOVERS

(-) PHAS (-11.84%) Begins public offering of common stock

(-) PTE (-10.18%) Plans to sell shares via Cantor Fitzgerald

(-) ABC (-4.43%) BofA-Merrill Lynch downgrades shares, cuts price target

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Investing , Stocks
Referenced Symbols: BA , UNH , DOW



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