Technology stocks lead S&P 500, Dow to record highs – Reuters

Technology stocks lead S&P 500, Dow to record highs – Reuters

American flags hang from the facade of the New York Stock Exchange (NYSE) building after the start of Thursday's trading session in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/File PhotoThe S&P 500 and the Dow hit record highs on Thursday as easing inflation concerns boosted demand for richly valued technology stocks, while upbeat earnings reports and strong March retail sales raised hopes of a broader economic rebound.The S&P information technology (.SPLRCT) and communication services (.SPLRCL) indexes, which include Apple Inc (AAPL.O), Microsoft Corp (MSFT.O) and Facebook Inc (FB.O), led gains after underperforming last month.Assurances from the Federal Reserve to maintain an accommodative monetary policy despite higher inflation, as well as more fiscal stimulus, have since revived U.S. stock markets and put the Nasdaq about 1.2% below its all-time high.The benchmark 10-year Treasury yield slipped below 1.6% for the first time since March 25.Top U.S. banks kicked off the first-quarter reporting season on Wednesday, with Goldman Sachs Group Inc (GS.N), JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N) posting bumper results.Bank of America and Citigroup also offered optimistic views on an economic recovery in their earnings reports on Thursday, but shares of