The S&P 500 index rose by 0.2% on Wednesday, with the increase amounting to 8.60 points, bringing the index to 5,477.90. This movement occurred amid subdued trading, as investors awaited the government's latest inflation report on Friday.
General Mills' revenue fell more sharply than analysts expected last quarter. The company has been dealing with lower sales volumes as consumers grow more cautious and price-conscious amid stubborn inflation.
Amazon.com's market value increased by 3.9%, surpassing $2 trillion for the first time. This rise in the e-commerce giant's stock market valuation came a little over a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street.