Economics
Tech Rally Lifts U.S. Stocks to Record; Bonds Rise: Markets Wrap
- Benchmark 10-year yields drop after last week’s increase
- U.S. retail-sales report, bank earnings are on tap this week
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A technology rally drove U.S stocks to fresh records at the start of a busy week for corporate earnings, economic data and Federal Reserve speakers. Treasuries climbed.
Gains in tech outweighed losses in energy and financial companies in the S&P 500 Index. The Nasdaq-100 and the Dow Jones Industrial Average also closed at all-time highs. Citigroup Inc., the first giant U.S. bank to report results, was little changed. After last week’s surge, Treasury 10-year yields dropped as investors bought bonds at cheaper prices. Oil fell below $60 a barrel.