The Nasdaq Composite on Wednesday closed at a record high to kick off July but the Dow industrials lagged behind.
The Nasdaq Composite on Wednesday closed at a record high to kick off July but the Dow industrials lagged behind, after minutes from the Federal Reserve's meeting last month indicated that policy makers would aim to provide more explicit guidance on the outlook for benchmark interest rates amid the coronavirus pandemic.
Netflix Inc. and Facebook Inc. FB, +4.61% helped to propel the technology-laden benchmark. The S&P 500 index SPX, +0.50% finished up 0.5% at 3,116, while the Dow Jones Industrial Average BA, -1.62% closed down 0.3%, pressured lower by declines in components Boeing Co. BA, -1.62% and Exxon Mobil XOM, -2.25%. Early in the session, stocks got a boost from another Dow component Pfizer Inc. PFE, +3.18%, which reported positive results from its clinical trial for a COVID-19 vaccine candidate.
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