S&P 500 flirts with record high, ‘meme’ rally rolls on – Reuters

S&P 500 flirts with record high, ‘meme’ rally rolls on – Reuters

Wall Street indexes kept to tight ranges on Wednesday ahead of key inflation data this week, while small-time retail investors bought into several more stocks as a social media-fueled rally continued.

While the S&P 500 was trading just below record highs, a lack of new catalysts saw it struggling to break above its last high of 4,238.04 points.

A recent rally on Wall Street - driven by strong earnings in May and growing expectations of a 2021 economic recovery - appeared to have paused this week as investors awaited more cues on U.S. monetary policy.