U.S. Stocks Rise to All-Time High on Growth Bets: Markets Wrap
- Most S&P 500 companies have beaten earnings estimates so far
- Fed seen keeping growth-accommodative stance despite recovery
WATCH: Port Shelter Sees Continuation in U.S. Momentum
Source: BloombergThis article is for subscribers only.
U.S. equities climbed to a record high amid solid corporate earnings and confidence that the Federal Reserve will remain accommodative even as robust growth takes the world’s largest economy back to pre-pandemic levels.
The S&P 500 rose after notching its first weekly decline since mid-March. Most of the main 11 industry groups gained, with energy and consumer-discretionary shares jumping the most. Small-cap stocks in the Russell 2000 outperformed the broader market. The U.S. 10-year Treasury yield hovered around its 50-day moving average. Copper, seen as a barometer of growth, surged to the highest in a decade.