S&P 500 Spikes to Notch Its Longest Rally in 2024: Markets Wrap
- Goldman’s Rubner says the ‘pain trade’ for US stocks is higher
- Blinken says Israel accepts cease-fire, Hamas must ‘say yes’
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Stocks kept pushing higher, adding to a rally from August lows that’s already topped $3 trillion amid bets the Federal Reserve will signal it’s ready to start cutting interest rates.
All major groups in the S&P 500 rose, with the gauge up for an eighth straight day — the longest winning streak since November. While technology shares led gains on Monday, an equal-weighted version of the US equity benchmark — one that gives Target Corp. as much clout as Microsoft Corp. — hit an all-time high amid hopes the advance will broaden beyond the megacap space. The Russell 2000 of smaller firms added 1.2%.