NEW YORK ( TheStreet) -- Stocks traded within a tight range and finished with marginal gains Wednesday, highlighted by improving bank shares and the strengthening Nasdaq, after investors digested an unexpected dip in wholesale inventories.
The Dow Jones Industrial Average added 3 points, or 0.03%, to 10,567, while the S&P 500 gained 5 points, or 0.5%, at 1146. The Nasdaq became the best performer of the day among the major indices, going ahead by 18 points, or 0.8%, at 2359.
In the afternoon, the government said the difference between its outlays and receipts grew more disparate during February. The Treasury report showed the budget deficit widened to a record $220.9 billion last month. At the same time last year, the deficit stood at $193.9 billion. Still, the gap came in about as expected, as analysts surveyed by Thomson Reuters anticipated a rise to $222 billion during the month.Shares in the materials sector dwindled on the day, though financial shares were among the better performers, with the KBW Bank index moving 2.2% higher. Shares of
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