U.S. stocks rose for the fifth consecutive day Wednesday as investors went on a late buying spree. The Standard & Poor's 500 index closed at a record high. Investors approved of the Federal Reserve's plans to start reducing its huge portfolio of bonds.
The Standard & Poor's 500 index jumped 5.97 points, or 0.2 percent, to 2,404.39.
The Dow Jones industrial average climbed 74.51 points, or 0.4 percent, to 21,012.42.
The Nasdaq composite advanced 24.31 points, or 0.4 percent, 6,163.02.
The Russell 2000 index of small-company stocks inched up 1.53 points, or 0.1 percent, to 1,382.51.
For the week:
The S&P 500 is up 22.66 points, or 1 percent.
The Dow is up 207.58 points, or 1 percent.
The Nasdaq is up 79.32 points, or 1.3 percent.
The Russell 2000 is up 15.18 points, or 1.1 percent.
For the year:
The S&P 500 is up 165.56 points, or 7.4 percent.
The Dow is up 1,249.82 points, or 6.3 percent.
The Nasdaq is up 779.91 points, or 14.5 percent.
The Russell 2000 is up 25.38 points, or 1.9 percent.