2023-06-12 22:03:20
Equity markets maintained their bullish momentum as investors prepared for a pause in the Fed’s heaviest austerity campaign in decades.
Major technology stocks led the market’s gains, with the “Nasdaq 100” index rising by 2%, and the “Standard & Poor’s 500” index surpassing the level of 4,325 points, which investors are closely following.
The two indices closed at their highest level since April 2022.
Tesla shares jumped for the twelfth session in a row – recording a record period of rise – and Apple shares achieved the highest level in its history.
Shares of KeyCorp and Citizens Financial Group led banks’ losses following disappointing news announced at an industry conference.
In late trading, Oracle shares gained following the company’s sales exceeded market estimates, in a sign that the software development company’s cloud computing branch is benefiting from demand for artificial intelligence.
Two-year Treasury yields, which are most sensitive to impending central bank action, fell. There was little change in the Bloomberg spot dollar index. Another drop in oil prices eased concerns regarding inflation.
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