Dow ends higher for second day, but S&P 500 and Nasdaq fall

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Major U.S. stock indexes finished mostly lower on Wednesday, with the Nasdaq Composite pulled down by tumbling shares of Netflix NFLX, -35.12% a day after the streaming service reported a net loss of 200,000 paid subscribers in the first quarter. The Dow Jones Industrial Average DJIA, +0.71% gained about 250 points, or 0.7%, ending a second day in a row higher near 35,160. The S&P 500 index SPX, -0.06% shed 0.1%, while the Nasdaq COMP, -1.22% closed 1.2% lower. Investors remain focused on quarterly earnings season, looking for hints as to how big companies and consumers have been managing inflation at a 40-year high. San Francisco Federal Reserve president Mary Daly said Wednesday the central bank should act quickly to move its policy rate to neutral levels, or 2.5% according to most forecasts. The Fed’s Beige Book report also showed expectations for inflation to continue running hot in the coming months.

This article was originally published by Marketwatch.com. Read the original article here.

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