S&P 500 gains for an eighth straight day, builds on longest win streak in 2 years

(CNBC) -- The S&P 500 hovered near the flatline on Wednesday, attempting to extend its longest winning streak in about two years.

The broader market index was little changed, bouncing back from a 0.4% loss midday. The Nasdaq Composite
inched down 0.1%. The Dow Jones Industrial Average lost 80 points, or 0.2%.

“The market is starting to set up for the Fed moving to the sidelines, and we may get a soft landing,” said Anthony Saglimbene, chief market strategist at Ameriprise. “Equities were really oversold for the last couple of months, and they’re finally seeing a little bit of a rebound.”

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