U.S. stocks were higher on Wednesday, with the Dow leading gains and the S&P 500 setting a closing record, paced drugmaker Merck, while investors looked towards the next piece of inflation data and Federal Reserve commentary for signals on the rate path. Merck & Co advanced 4.96% as the best performer on the Dow after the U.S. Food and Drug Administration approved its therapy for adults suffering from a rare lung condition.
U.S. stocks were higher, with the Dow leading gains on Wednesday, and the S&P 500 setting a closing record, paced by gains in drugmaker Merck, while investors looked towards the next piece of inflation data and Federal Reserve policymaker commentary for signals on the rate path. Merck & Co advanced as the best performer on the Dow after the U.S. Food and Drug Administration approved its therapy for adults suffering from a rare lung condition. The blue-chip Dow sits roughly 1% away from breaking the 40,000 level for the first time.
The Dow was the best performing of the three major indexes on Wednesday, paced by gains in drugmaker Merck, while as investors looked towards the next piece of inflation data and Federal Reserve policymaker commentary for insight on the rate path. Merck & Co advanced 4.77% as the biggest boost and percentage gained on the Dow after the U.S. Food and Drug Administration approved its therapy for adults suffering from a rare lung condition.