AP

How major US stock indexes fared Wednesday 8/03/2022

Aug 3, 2022, 1:31 PM | Updated: 1:50 pm

Stocks closed higher on Wall Street Wednesday as investors reviewed a mostly encouraging batch of earnings from big companies.

The S&P 500 rose 1.6% to an almost 2-month high. The Nasdaq and Dow Jones industrials also rose.

Starbucks and CVS closed higher after reporting solid quarterly results. PayPal shares soared on a report that activist investor Elliott Management has taken a large stake in the payment company. The 10-year Treasury yield slipped. Oil prices fell after the OPEC oil cartel and its allies decided to boost production in September by a much slower pace than in previous months.

On Wednesday:

The S&P 500 rose 63.98 points, or 1.6%, to 4,155.17.

The Dow Jones Industrial Average rose 416.33 points, or 1.3%, to 32,812.50.

The Nasdaq rose 319.40 points, or 2.6%, to 12,668.16.

The Russell 2000 index of smaller companies rose 26.48 points, or 1.4%, to 1,908.93.

For the week:

The S&P 500 is up 24.88 points, or 0.6%.

The Dow Jones Industrial Average is down 32.63 points, or 0.1%.

The Nasdaq is up 277.47 points, or 2.2%.

The Russell 2000 index of smaller companies is up 23.70 points, or 1.3%.

For the year:

The S&P 500 is down 611.01 points, or 12.8%.

The Dow is down 3,525.80 points, or 9.7%.

The Nasdaq is down 2,976.81 points, or 19%.

The Russell 2000 is down 336.39 points, or 15%.

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How major US stock indexes fared Wednesday 8/03/2022