Also benefiting from Reddit chatter, prison operator GEO Group GEO.N, and World Wrestling Entertainment WWE.N jumping by 50.9% and 10.4%, respectively. By Stephen Culp NEW YORK, June 9 (Reuters) - The S&P 500 .SPX hovered near a record closing high on Wednesday, as institutional investors looked to coming inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy. Washington lawmakers passed sweeping bill designed to boost the United States' ability to compete against Chinese technology, providing funds for research and semiconductor production amid an ongoing chip supply drought.