US Stocks Extend Rally Buoyed by Technology Shares: Markets Wrap
- Federal Reserve officials sugguest more tightening is needed
- Biden administration calls for tighter rules on banks
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Technology stocks propelled US stocks higher as Federal Reserve officials reiterated their resolve to lower inflation.
The S&P 500 gained 0.6% — even with financials under pressure — while the tech-heavy Nasdaq 100 rose 0.9%, pushing further into a bull market. Treasuries were little changed and the dollar was weaker against major peers.