U.S. equities advanced on Wednesday, with large-cap technology shares once again carrying the market to fresh highs. The S&P 500 added 0.72% to finish at 6,344.70, while the Nasdaq Composite jumped 1.19% to 21,164.41. The Dow Jones Industrial Average inched up 0.19% to 44,193.89, extending a weeks-long rally that has left all three benchmarks near record territory. Gains were narrowly concentrated. Only about 240 S&P 500 constituents rose, and just 27% of the index outperformed the benchmark. The equal-weight S&P 500 ETF slipped and small-cap shares tracked by the Russell 2000 edged lower, underscoring fading breadth as more than half of large-cap stocks closed below their 50-day moving averages. Investors continued to favor the market’s biggest companies even as participation in the rally thinned.