Sunday, August 1, 2021

S&P 500, Dow hit record high

The S&P 500 and the Dow hit record highs on Thursday as easing inflation concerns boosted investor sentiment. Investors increased their risk appetite as upbeat company earnings reports and strong March retail sales raised hopes of a broader economic rebound.

Reports that top U.S. banks posted bumper results and the benchmark 10-year Treasury yield slipped below 1.6 percent for the first time since 25th March also supported the three major US stocks.

Dow Jones Industrial Average gained 0.9 percent, the S&P 500 climbed 1.1 percent and the Nasdaq Composite index surged 1.3 percent.

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