The Dow Jones Industrial Average climbed slightly to a record on Wednesday as investors digested a new batch of corporate earnings as well as data showing subdued inflation.
 | WED, FEB 10, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 135.39 | -0.62 | -0.46% | | CSCO | 47.24 | -1.26 | -2.60% | | KO | 49.60 | -0.10 | -0.20% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 11.76 | -0.17 | -1.43% | | TWTR | 67.77 | +7.90 | +13.20% | | AAPL | 135.39 | -0.62 | -0.46% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 135.39 | -0.62 | -0.46% | | CSCO | 47.24 | -1.26 | -2.60% | | AMD | 92.35 | +1.44 | +1.58% | |
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Stocks were a mixed bag on Wednesday, with the S&P 500 closing down 0.03% and the Nasdaq Composite down by 0.25%. The Dow Jones Industrial Average was the bright spot, closing at a new record high of 31,437. The small cap rally bolstering the Russell 2000 seems to be slowing down, as the index closed lower. Nevertheless, the year-to-date gains still clock in over 15%. Cannabis companies are the story of the day, as Reddit investors have found their newest shiny object.  A post on the Reddit forum WallStreetBets – well-known for driving interest in GameStop – highlighted Tilray Inc. and Aphria Inc. The play banks on a favorable environment in Washington for federal legalization. Shares of Tilray soared by 50%, bringing year-to-date gains to 673%. Meanwhile Aphria was up more than 10% at close – and up 280% for 2021. Market excitement aside, investors are also paying close attention to inflation indicators. For now, Federal Reserve chairman Jerome Powell is sending dovish signals, maintaining that rates will stay low for some time. "Despite the surprising speed of recovery early on, we are still very far from a strong labor market whose benefits are broadly shared," said Powell, speaking at The Economic Club of New York on Wednesday afternoon. |
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