Stocks Rise to Record With Focus Turning to Fed: Markets Wrap
- Financial, tech stock gains outweigh losses in health care
- Ten-year Treasury yields inch higher, hold below 1.5%
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U.S. equities eked out a gain in choppy trading as investors continued to assess the outlook for inflation and the path of Federal Reserve monetary policy. Ten-year Treasury yields held at around the lowest since March.
Friday’s advance of 0.2% came a day after the S&P 500 notched its first all-time high since early May as data showed U.S. consumer price increases in May were largely driven by categories associated with economic reopenings, bolstering the view that inflation pressures may ease later in the year. Treasury yields inched higher, with the 10-year rate still ending the week below 1.5%.