S&P 500 ends at another record as US stocks edge higher

The S&P 500 posted a second straight record Wednesday following a choppy session amid lingering worries about US tariffs and their potential to reignite inflation.

Minutes from the Federal Reserve’s last meeting showed concern about the effects of President Donald Trump’s deluge of trade and immigration proposals and their prospects for hindering the drive to ease inflation.

Major US indices moved in and out of negative territory throughout the day, but finished higher.

The broad-based S&P 500 gained 0.2 percent at 6,144.15, its second straight record.

The Dow Jones Industrial Average climbed 0.2 percent to 44,627.59, while the tech-rich Nasdaq Composite Index advanced 0.1 percent to 20,056.25.

“The minutes show the Committee is thinking much more about upside risks to its inflation forecasts than the downside risks to employment,” said Pantheon Macro, which described the Fed as in no rush to cut interest rates further.

Among individual companies, Apple advanced 0.2 percent after unveiling a new iPhone model with a lower price tag. The iPhone 16e starts at $599 in the United States, compared with $799 for a standard iPhone.

Palantir Technologies dropped 10.1 percent following a Washington Post report that the Trump administration plans significant defense budget cuts. (BSS/AFP)