Tech Shares Lead U.S. Stocks to All-Time Highs: Markets Wrap
- Biden’s vaccine plan, stimulus target bolster risk taking
- Lagarde speaks on virus risk after ECB keeps stimulus steady
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U.S. stocks eked out a gain to close at a record with tech shares lifting the major indexes on anticipation that more fiscal spending will revive economic growth and bolster corporate earnings. The dollar weakened.
The S&P 500 Index rose a bit omre than one point, while the Nasdaq indexes rose at least 0.5%. Risk appetite has gotten a boost from President Joe Biden’s push for nearly $2 trillion in additional spending and plans to jumpstart a federal response to the pandemic. Benchmark Treasury yields remained higher after initial jobless claims posted a small decline.