News
Stock market today: S&P 500, Dow head for fresh records
US stocks popped on Wednesday as the risk of a Google breakup prompted a pause for thought in the wait for more Federal Reserve clues to the chances of a "soft landing."
The Nasdaq Composite ( ^IXIC ) pared earlier losses to rise about 0.3% while the S&P 500 ( ^GSPC ) popped about about 0.5%. The Dow Jones Industrial Average ( ^DJI ) added about 0.9%, or more than 350 points. Both the Dow and S&P 500 were pacing for record closes.
Stocks have whipsawed this week amid intense debate over the state of the economy now the Fed has finally eased up on policy. Its decision to cut by a jumbo 50 basis points raised concerns it might see risks the market could not. That has investors wondering about a "no landing," where the economy keeps growing and inflation risks once again emerge .
Minutes from the Fed's September meeting, due later on Wednesday, will be scoured for clues — especially as to why one policymaker dissented on the size of the cut.
Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards
Meanwhile, investors are absorbing news that the DOJ is considering asking a judge to force Google to sell off key businesses to remedy its monopoly position. Shares of owner Alphabet ( GOOG ) slipped in early trading, after rising in a broader tech rebound that fueled Tuesday's solid gains.