U.S. stocks closed higher Wednesday, building on the previous session’s blockbuster rally sparked by subdued inflation data that bolstered hopes for an economic soft landing that would see the Federal Reserve reduce borrowing costs as growth holds up.
What happened
The S&P 500 soared 1.9% on Tuesday for its biggest one-day percentage gain since April 27, while the Dow surged 490 points, or 1.4%. Both indexes scored their highest close since Sept. 14. The Nasdaq Composite jumped 2.4% for its highest close since Aug….
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