S&P 500 leaps to highest close in 14 months; traders bet US rates near peak
The S&P 500 and Nasdaq surged on Thursday to close at their highest in 14 months, as investors cheered economic data that fueled bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign.
- May retail sales rise unexpectedly, jobless claims flat
- China ADRs climb on more rate cuts
- Kohl's up after TD Cowen upgrade
- Indexes: $S&P 500 Index(.SPX.US$ +1.22%, $Nasdaq Composite Index(.IXIC.US$ +1.15%, $Dow Jones Industrial Average(.DJI.US$ +1.26%
- China ADRs climb on more rate cuts
- Kohl's up after TD Cowen upgrade
- Indexes: $S&P 500 Index(.SPX.US$ +1.22%, $Nasdaq Composite Index(.IXIC.US$ +1.15%, $Dow Jones Industrial Average(.DJI.US$ +1.26%
The $S&P 500 Index(.SPX.US$ climbed 1.22% to end the session at 4,425.84 points.The $Nasdaq Composite Index(.IXIC.US$ increased 1.15% to 13,782.82 points, bringing its gain this week to almost 4%.The $Dow Jones Industrial Average(.DJI.US$ rose 1.26% to 34,408.06 points.
Volume on U.S. exchanges was relatively heavy, with 11.8 billion shares traded, compared to an average of 10.9 billion shares over the previous 20 sessions.
Advancing issues outnumbered falling ones within the S&P 500 by a 7.1-to-one ratio.
The S&P 500 posted 48 new highs and no new lows; the Nasdaq recorded 80 new highs and 72 new lows. $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
Volume on U.S. exchanges was relatively heavy, with 11.8 billion shares traded, compared to an average of 10.9 billion shares over the previous 20 sessions.
Advancing issues outnumbered falling ones within the S&P 500 by a 7.1-to-one ratio.
The S&P 500 posted 48 new highs and no new lows; the Nasdaq recorded 80 new highs and 72 new lows. $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
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