Stocks Climb to All-Time Highs on Growth Outlook: Markets Wrap
Bloomberg 22 mins ago Olivia Raimonde and Kamaron Leach
(Bloomberg) U.S. stocks rose to all-time highs as increased stimulus in the world’s largest economy fueled optimism about the global recovery. Oil gained as OPEC and allies prepared to debate production cuts in an online meeting.
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The S&P 500 Index rallied past 4,000 for the first time as investors weighed President Joe Biden’s newly unveiled $2.25 trillion spending plan ahead of Friday’s U.S. employment report, which is expected to show the quickest pace of hiring in five months. Technology shares led the rally, with investors again favoring growth over value stocks. Treasuries rebounded after the worst quarter in decades.
Stocks Rise on Growth Outlook With Jobs in Focus: Markets Wrap
Bloomberg 31 mins ago Andreea Papuc and Srinivasan Sivabalan
(Bloomberg) U.S. index futures rose with stocks as signs of faster job creation in the world’s largest economy fueled optimism about the global recovery. Oil climbed above $60 per barrel before a meeting of OPEC and allies on extending production cuts.
Contracts on the S&P 500 Index advanced before Friday’s U.S. nonfarm payrolls data that may show the quickest pace of hiring in five months. Nasdaq 100 futures increased about 1%, while technology stocks gained in premarket trading. The Stoxx Europe 600 gauge headed for the longest streak of weekly gains this year. Longer-dated Treasury yields fell as investors weighed delivery challenges to Joe Biden’s $2.25 trillion stimulus plan.