Movers and Shakers
All 10 S&P sectors closed higher, led by a 2-percent rise in health care, followed by a 1.8-percent rise for the financial sector, which would benefit from higher rates.
Qualcomm and Target were the biggest drags on the S&P. Qualcomm (QCOM) fell 9.4 percent after a South Korean regulator alleged it violated competition laws.
Target (TGT) fell 4.3 percent after warning it will miss its fiscal-year forecast for online sales growth.
Data released Wednesday showed housing starts fell to a seven-month low, but a surge in building permits suggested the housing market remained on solid ground.
NYSE advancing issues outnumbered decliners 2,371 to 697, for a 3.40-to-1 ratio; on the Nasdaq, 1,936 issues rose and 920 fell, for a 2.10-to-1 ratio favoring advancers.
The S&P 500 posted 19 new 52-week highs and 7 lows; the Nasdaq recorded 55 new highs and 116 lows. About 7.2 billion shares changed hands on U.S. exchanges, compared with the 7.3 billion daily average for the past 20 trading days, according to Thomson Reuters (TRI) data.
-Chuck Mikolajczak in New York and Abhiram Nandakumar in Bangalore, India contributed reporting.
What to watch Thursday:
The Labor Department releases weekly jobless claims at 8:30 a.m. Eastern time.
Freddie Mac, the mortgage company, releases weekly mortgage rates at 10 a.m.
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