U.S. stocks ended higher and the dollar extended its losses on Wednesday, as a slew of disappointing economic data raised the probability that the Federal Reserve will press the pause button in its efforts to rein in inflation.
All the three major U.S. stock indexes advanced, with the Nasdaq enjoying the biggest percentage gain. The blue-chip Dow closed only nominally higher.
With one more trading day remaining in August, all three indexes are on track for monthly losses, with the S&P 500 notching its biggest monthly percentage drop since February, and the tech-laden Nasdaq setting a course for the largest monthly slide this year.
