Reported 12 months ago
Wall Street traders pushed stocks to all-time highs as bond yields dropped, speculating on potential Federal Reserve rate cuts following signals of the US returning to a disinflationary path. The S&P 500 closed above 5,500 for the first time ever and Tesla Inc.'s 10% surge led gains in mega-cap stocks. Despite concerns of the market being ahead of itself, analysts predict continued economic strength will drive the S&P 500 to new peaks by year-end, while US earnings are expected to rise by 13% for the second quarter.
Source: YAHOO