Stocks closed mostly higher on Wednesday, helped by big technology stocks, but news of tighter restrictions in New York State helped dent an earlier rally.
The S&P 500 closed up or 0.8% and the technology-heavy Nasdaq composite rose by 2%. The Dow Jones Industrial Average was dragged lower in part by American Express and Walt Disney, two stocks that shot up this week after news of a potentially successful vaccine sent travel, entertainment and tourism companies surging.
The Dow declined shortly after news crossed that New York would put restrictions on bars, restaurants and gyms as COVID-19 infections rose in the state.
On Wednesday:
The S&P 500 rose 27.13 points, or 0.8%, to 3,572.66.
The Dow Jones Industrial Average lost 23.29 points, or 0.1%, to 29,397.63.
The Nasdaq composite dropped 232.57, or 2%, to 11,786.43
The Russell 2000 small-cap index fell 0.07 point to 1,736.94
For the week:
The S&P 500 is up 63.22 points, or 1.8%.
The Dow is up 1,074.23 points, or 3.8%.
The Nasdaq is down 108.80 points, or 0.9%.
The Russell 2000 is up 92.78 points, or 5.6%.
For the year:
The S&P 500 is up 341.88 points, or 10.6%.
The Dow is up 859.19 points, or 3%.
The Nasdaq is up 2,813.83 points, or 31.4%.
The Russell 2000 is up 68.47 points, or 4.1%.
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