How major US stock market indexes fared Wednesday

By The Associated Press Markets Associated Press

The major U.S. stock indexes closed mostly higher Wednesday, led by gains among banks as bond yields rose.

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The modest gains came after investors weighed the latest policy update from the Federal Reserve, which said it would begin reducing its huge bond portfolio next month. The central bank also said it was still on track to raise interest rates later this year.

On Wednesday:

The Standard & Poor's 500 index edged up 1.59 points, or 0.1 percent, to 2,508.24.

The Dow Jones industrial average rose 41.79 points, or 0.2 percent, to 22,412.59.

The Nasdaq composite lost 5.28 points, or 0.1 percent, to 6,456.04.

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The Russell 2000 index of smaller-company stocks added 5.02 points, or 0.4 percent, to 1,445.42.

For the week:

The S&P 500 is up 8.01 points, or 0.3 percent.

The Dow is up 144.25 points, or 0.7 percent.

The Nasdaq is up 7.57 points, or 0.1 percent.

The Russell 2000 is up 13.71 points, or 1 percent.

For the year:

The S&P 500 is up 269.41 points, or 12 percent.

The Dow is up 2,649.99 points, or 13.4 percent.

The Nasdaq is up 1,072.93 points, or 19.9 percent.

The Russell 2000 is up 88.29 points, or 6.5 percent.