S&P 500 Races Toward 30th All-Time High of 2024
June 20, 2024 by Rita Nazareth
Stocks headed toward fresh all-time highs as several big techs climbed despite a jump in Treasury yields, with traders gearing up for retail-sales data and a slew of Federal Reserve speakers.
The S&P 500 was set to close with its 30th record this year. Some Wall Street strategists rushed to raise their targets even as many hedge funds grow increasingly cautious. Treasuries trimmed their June rally amid a flurry of corporate-debt sales, with Home Depot Inc. selling $10 billion worth of bonds in the U.S. high-grade market.
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