S’s 4-day Rally Ends On P’s View; Cisco Off Late
The S&P 500 closed flat on Wednesday, with a four-day rally in the index just barely coming to an end after Procter & Gamble cut its outlook, though some positive earnings limited the decline and eased concerns that valuations had become stretched. The Nasdaq rose for a fifth straight session, boosted by strong results at TripAdvisor, while the Dow felt the pressure from P&G and ended the day slightly lower. The S&P 500 gained 3.9 percent over the past four sessions, its best four-day performance in 13 months. The move put it about 1.6 percent below its record closing high of 1,848.38 set on January 15.
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