Market Recap: Wednesday, March 10: Dow closes at record high
Stocks were mostly higher on Wednesday after new data showed still-muted inflationary pressures in consumer goods, helping assuage fears of a rapid jump in prices during the economic recovery. Treasury yields reversed course to dip following the report. The Dow jumped by more than 1.5% to reach a fresh record intraday high, with the milestone arriving just a year after the COVID-19 outbreak first sent markets into a tailspin. The Nasdaq erased earlier gains of more than 1% to close near the flat line, after the index ended Tuesday’s session higher by 3.7% to post its best day since November. Chief Investment Strategist at CFRA, Sam Stovall, and Lisa Erickson, U.S. Bank Wealth Management’s Head of Traditional Investments joined Yahoo Finance Live.
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