(Updates to afternoon)
NEW YORK, April 8 (Reuters) - Technology shares led Wall Street higher on Thursday and Treasury yields extended their pull-back from recent peaks as market participants digested the U.S. Federal Reserve’s vow to stay the course with its dovish monetary policy.
The Nasdaq was around 1% higher and the S&P 500 was on course to hit a new record high. The blue-chip Dow was up more modestly, its gains capped by financials and industrials.
“Interest rates have backed off and moderated, and reignited the interest in technology shares,” said Jamie Cox, managing partner for Harris Financial Group in Richmond, Virginia.
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NEW YORK (Reuters) -A tech rally pushed the S&P 500 to an all-time closing high on Thursday and Treasury yields extended their pull-back from recent peaks as market participants digested the U.S. Federal Reserve’s vow to stay the course with its dovish monetary policy.
FILE PHOTO: Traders wearing masks work,on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid/File Photo
The Nasdaq led the way, advancing more than 1%, but the blue-chip Dow’s gain was more modest. [.N]
“It’s a little bit of a Fed-driven day going back to their comments yesterday of rates remaining low for an extended period of time - we’re seeing interest rate-sensitive stocks like technology benefiting from that,” said Jeff Carbone, managing partner at Cornerstone Wealth in Huntersville, North Carolina.
Wall Street advances as Treasury yields dip, dollar softens marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
GLOBAL MARKETS-Tech rally leads S&P to record high as Treasury yields dip, dollar softens Reuters 2 days ago
By Stephen Culp
NEW YORK, April 8 (Reuters) - A tech rally pushed the S&P 500 to an all-time closing high on Thursday and Treasury yields extended their pull-back from recent peaks as market participants digested the U.S. Federal Reserve s vow to stay the course with its dovish monetary policy.
The Nasdaq led the way, advancing more than 1%, but the blue-chip Dow s gain was more modest. It s a little bit of a Fed-driven day going back to their comments yesterday of rates remaining low for an extended period of time - we’re seeing interest rate-sensitive stocks like technology benefiting from that, said Jeff Carbone, managing partner at Cornerstone Wealth in Huntersville, North Carolina.