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Stronger manufacturing data raised confidence in the global economy, and small-cap shares rebounded, resulting in a positive day for the market.
Today, the U.S. Federal Reserve’s late-April meeting minutes were released, indicating that Fed officials believe continued stimulus does not risk an increase in the inflation rate.
Following yesterday’s worst session in a month, stocks rebounded today, led by a better-than-expected rise in the pace of home construction.
Today’s losses were partly attributable to a sell-off in small-cap stocks.
Both the S&P 500 and the Dow Jones Industrial Average made slight gains from yesterday’s records today, thanks in part to data that showed March retail sales were higher than initially reported.
Thanks to rises in Internet and small-cap shares, among others, the S&P 500 and Dow Jones Industrial Average both reached respective records today.