S&P 500 Ekes Out Record High as Tech Continues Climb By Investing.com – Investing.com

SourceInvesting.com
SectorFinancial Markets
CountryGulf

© Reuters. By Yasin Ebrahim Investing.com – The S&P 500 closed at record high Wednesday on tech strength but gains were kept in check by an uptick in U.S. bond yields after the Federal Reserve's March meeting minutes continued to signal that easy monetary policy is here to stay. The rose 0.2%, to end the day at closing record of 4,079.95, the rose 0.05%, or 16 points, and the was down 0.1%. The Federal Reserve minutes drew a muted a reaction in markets and didn't offer any new clues on monetary policy.  Fed policymakers acknowledged progress on the economy, but continued to back the ongoing pace of monetary support, saying  substantial progress on the recovery will likely take "some time." Tech stocks gave up some of their gains as turned positive, while worries that stocks have run up too fast and are due a correction also weighed. Microsoft (NASDAQ:), Google-parent Alphabet (NASDAQ:), Facebook (NASDAQ:FB), Apple (NASDAQ:) and Amazon.com (NASDAQ:) traded in the green. Amazon late-Tuesday pledged its support for President Joe Biden's $2 trillion infrastructure plan and said it was ready to back the proposed corporate tax hike to fund the package. Biden did signal that he was willing to negotiate on a ...read more...