The S&P 500 and Dow Jones closed at record highs on Monday on Wall Street, as investors look forward to signals the Federal Reserve could deliver this week amid wariness over rising borrowing costs driven by the huge fiscal stimulus.
The S&P 1500 Airlines Index rose to a one-year high, while other travel-related stocks, such as Carnival, Wynn Resorts and MGM Resorts, also gained.
Most of the 11 S&P industry indices closed higher, led by utilities and real estate companies.
Major stock indexes finished their best week in six on Friday, after mass vaccinations and the passage of a $ 1.9 trillion aid bill accelerated demand for securities that are expected to perform better as the economy reopens. such as banks, energy, and commodity companies.
The Russell index of growth stocks outperformed the Russell index in value in a modest reversal of investors’ recent trend away from tech and other volatile stocks.
The Dow Jones Industrial Average rose 0.53%, to 32,953.46 units, while the S&P 500 advanced 0.65%, to 3,968.94 points. The NASDAQ gained 1.05% to 13,459.71 units.
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