Stocks recovered from an early slide and closed higher on Wall Street Thursday as investors weigh the latest update from the Federal Reserve amid concerns about rising inflation.
Health care and technology stocks helped lift the market. Retailers and other companies that rely on direct consumer spending also rose.
The S&P 500 rose 19.06 points, or 0.4%, to 4,500.21.
The Dow Jones Industrial Average rose 87.06 points, or 0.3%, to 34,583.57.
The Nasdaq rose 8.48 points, or 0.1%, to 13,897.30.
The Russell 2000 index of smaller companies fell 7.14 points, or 0.4%, to 2,009.80.
For the week:
The S&P 500 is down 45.65 points, or 1%.
The Dow is down 234.70 points, or 0.7%.
The Nasdaq is down 364.20 points, or 2.6%.
The Russell 2000 is down 81.31 points, or 3.9%.
For the year:
The S&P 500 is down 265.97 points, or 5.6%.
The Dow is down 1,754.73 points, or 4.8%.
The Nasdaq is down 1,747.60 points, or 11.2%.
The Russell 2000 is down 235.51 points, or 10.5%.