The S&P 500 went up a little on Wednesday. This happened after news showed the U.S. economy got smaller in the first quarter. Investors are worried about a possible recession.
The S&P 500 rose by 0.15% to close at 5,569.06. The Nasdaq Composite fell by 0.09% to 17,446.34. The Dow Jones Industrial Average rose by 141.74 points, or 0.35%, ending at 40,669.36.
Even with this, the day was rocky. At one point, the S&P 500 was down by nearly 2.3%.
First-quarter GDP fell by 0.3%. This is different from the 2.4% rise in the last quarter. Consumer spending also grew slowly.
Despite the bad news, traders bought stocks again on Wednesday, helping the market recover a bit this month.
Vocabulary List:
- Recession /rɪˈsɛʃən/ (noun): A period of temporary economic decline during which trade and industrial activity are reduced.
- Investors /ɪnˈvɛstərz/ (noun): Individuals or institutions that commit capital with the expectation of receiving financial returns.
- GDP /ˌdʒiːˌdiːˈpiː/ (noun): Gross Domestic Product; the total value of goods produced and services provided in a country during one year.
- Consumer /kənˈsjumər/ (noun): A person who purchases goods and services for personal use.
- Traders /ˈtreɪdərz/ (noun): Individuals or entities that buy and sell financial instruments in the market.
- Recovered /rɪˈkʌvərd/ (verb): Gained back or regained a state of condition; improved after a decline.
How much do you know?
When did the events described in the text take place?
What was the percentage increase in the S&P 500 on Wednesday?
Which index fell by 0.09% on Wednesday?
By how many points did the Dow Jones Industrial Average rise?
What was the change in GDP in the first quarter?
How much did the S&P 500 drop at one point?
The S&P 500 closed at 5,569.06 on Wednesday.
Investors are not worried about a possible recession.
The Nasdaq Composite saw a rise of 0.09%.
Consumer spending grew rapidly in the first quarter.
The market did not show signs of recovery in the first quarter.
The day was smooth without any significant fluctuations in the market.
The S&P 500 closed at on Wednesday.
The Dow Jones Industrial Average ended at points.
Consumer spending in the first quarter grew .
At one point, the S&P 500 was down by nearly .
Traders bought stocks again on Wednesday, helping the market recover a bit this .
The U.S. economy got smaller in the quarter.
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