S&P 500 Hits Fresh Record Highs as Bulls Stick With Tech After Yields Slip

By Investing.com3 days ago


© Reuters.

By Yasin Ebrahim

Investing.com The S&P 500 continued its run of record highs Thursday as big tech racked up gains after selling in bonds pushed yields lower following weaker labor market data and dovish remarks from Federal Reserve Jerome Powell.

The S&P 500 rose 0.4%, after hitting an intraday record high of 4,097.30, the Dow Jones Industrial Average rose 0.04%, or 12 points, and the Nasdaq Composite was up 0.97%.

Chairman Powell, appearing during a virtual IMF panel discussion on Thursday,laid out the case for the central bank to keep its monetary spigot wide open, cooling investor expectations the central bank will be forced to act sooner-than-expected.

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