S&P 500 Extends Gain, Doubles From Pandemic Bottom: Markets Wrap
- Defensive companies lead market higher; Apple hits record
- Citigroup’s Levkovich warns of volatility on Fed, tax hike
WATCH: Dominic Schnider of UBS Global Wealth Management CIO Office, discusses the outlook for the dollar, Asian currencies and commodities.
(Source: Bloomberg)
This article is for subscribers only.
The stock market wiped out earlier losses, with the S&P 500 extending its surge from a March 2020 low to 100%. Treasuries climbed.
The benchmark gauge of American shares closed at another record -- its 49th since the end of last year -- led by health-care and utility companies. Apple Inc. also climbed to an all-time high. Equities fell in the first few hours of trading on Monday after softer economic data from the world’s two biggest economies. Tesla Inc. sank as the U.S. opened an investigation on the electric-vehicle firm’s Autopilot system.