Wall Street kicked off the new week on a high note, with all major U.S. indices posting gains and reaching fresh record highs by midday trading in New York, as the bull market momentum remains strong.
The S&P 500 index surged to 5,325 points during the session, matching last Thursday’s all-time high. The tech-heavy Nasdaq 100 climbed past 18,670 points, setting new record highs. The Dow Jones remained steady at 40,000, its highest level ever.
The rally in metal commodities continued, with gold, as tracked by the SPDR Gold Trust (NYSE:GLD), exceeding $2,430 per ounce, marking a new all-time record. Silver increased by 1.3% after a 6.4% gain on Friday, up more than 20% since the beginning of the month.
Treasury yields saw little movement, with the 10-year benchmark hovering at 4.44%. Markets appeared to brush off some hawkish remarks from the Federal Reserve.
Federal Reserve Vice President Michael Barr noted that first-quarter inflation was disappointing and did not provide the confidence needed to ease monetary policy, emphasizing the necessity of allowing tight policy more time ...Full story available on Benzinga.com
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