Wall Street reverses, closing lower ahead of inflation report - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
S&P 500 flirts with record high, meme rally rolls on
By Ambar Warrick and Shashank Nayar
Reuters
(Reuters) -Wall Street indexes kept to tight ranges on Wednesday ahead of key inflation data this week, while small-time retail investors bought into several more stocks as a social media-fueled rally continued.
While the S&P 500 was trading just below record highs, a lack of new catalysts saw it struggling to break above its last high of 4,238.04 points.
A recent rally on Wall Street - driven by strong earnings in May and growing expectations of a 2021 economic recovery - appeared to have paused this week as investors awaited more cues on U.S. monetary policy.
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