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Stocks closed broadly higher on Wall Street Wednesday as investors welcomed China's move to exempt some U.S. products from a recent round of tariffs.

Technology, health care and communication services stocks powered much of the gains for the S&P 500, which has been essentially flat for much of the week. Investors also continued to favor smaller-company stocks.

On Wednesday:

The S&P 500 rose 21.54 points, or 0.7%, to 3,000.93.

The Dow Jones Industrial Average gained 227.61 points, or 0.8%, to 27,137.04.

The Nasdaq picked up 85.52 points, or 1.1%, to 8,169.68.

The Russell 2000 index of smaller-company stocks climbed 32.72 points, or 2.1%, to 1,575.71.

For the week:

The S&P 500 is up 22.22 points, or 0.7%.

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The Dow is up 339.58 points, or 1.3%.

The Nasdaq is up 66.60 points, or 0.8%.

The Russell 2000 is up 70.54 points, or 4.7%.

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For the year:

The S&P 500 is up 494.08 points, or 19.7%.

The Dow is up 3,809.58 points, or 16.3%.

The Nasdaq is up 1,534.40 points, or 23.1%.

The Russell 2000 is up 227.15 points, or 16.8%.

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