How major US stock indexes fared Wednesday, 8/23/2023

Wall Street had its best day since June as pressure on stocks from the bond market relaxed a bit. The S&P 500 rose 1.1% Wednesday, trimming its loss for August. The Dow added 184 points, and the Nasdaq composite climbed 1.6%. Treasury yields eased in the bond market after a report suggested the surprisingly resilient U.S. economy is cooling. Big Tech stocks and others that benefit from easier interest rates led the market. Nvidia climbed 3.2% ahead of its highly anticipated profit report. Nvidia and other stocks benefiting from a frenzy around artificial intelligence have helped drive this year’s gains for the stock market.