Strong Rally On Wall Street ; US Inflation Eyed

US stocks moved sharply higher over the course of the trading day on Wednesday. With the strong upward move, the S&P 500 closed above 5,600 for the first time ever. The Nasdaq surged 218.16 points or 1.2 percent to 18,647.45, the Dow shot up 429.39 points or 1.1 percent to 39,721.36 and the S&P 500 jumped 56.93 points or 1.0 percent to 5,633.91. The rally on Wall Street was partly due to strength among technology stocks, as reflected by the notable advance by the tech-heavy Nasdaq, which also reached a new record closing high.