S&P 500 tops 5,600 mark in longest rally this year
Thursday, 11 July 2024 () For the first time ever, the S&P 500 surpassed 5,600 points. This rise was driven by renewed interest in mega-cap stocks, with Nvidia Corp. increasing by over 2.5% and Apple Inc. advancing on news of its plan to ship 10% more new iPhones after a challenging 2023. Meanwhile, Treasuries remained stable following a successful $39 billion sale of 10-year bonds. Market swaps are predicting two Fed rate cuts in 2024, with increased odds that the first cut will occur in September.
Thursday, 11 July 2024 ()
