Small Caps Near Record Highs, Robinhood Rallies 12%: Stock Market Today

U.S. stocks traded higher by midday Wednesday, with semiconductor equipment names and small caps leading the tape, as investors held their fire ahead of Kevin Warsh‘s first interest-rate decision as Federal Reserve chair, due at 2 p.m. ET.
The Fed is all but certain to hold the funds rate at 3.50%-3.75%, putting the spotlight on the updated “dot plot” for any hawkish tilt from the committee — and on how Warsh frames inflation and the path for rates.
Speaking at the G7 summit in Evian, France, President Donald Trump cautioned that the proposed agreement to end the Middle East conflict is “not final” and that the U.S. could resume its military operation in Iran.
The S&P 500 added 0.1% to 7,515, while the Dow Jones Industrial Average rose 0.3% to 52,171, building on Tuesday’s record close.
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