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Stocks extended their rebound into the third week of April, with the S&P 500 and Nasdaq reaching new record highs following announcements by President Donald Trump and Iran to reopen the Strait of Hormuz, easing concerns over global energy supply disruptions.
The decline in oil prices and Treasury bond yields supported investor appetite for risk assets, helping fuel a broad-based rally led by software, financial, travel, and leisure stocks, small caps, and a strong initial public offering.
For the week, the Dow Jones Industrial Average rose by 3.19 percent to 49,447, near its weekly high. The S&P 500 gained 4.54 percent to 7,126, surpassing 7,100 for the first time. The Nasdaq Composite led for a third consecutive week, surging 6.84 percent to an all-time high, while the Russell 2000 advanced 5.56 percent….
The decline in oil prices and Treasury bond yields supported investor appetite for risk assets, helping fuel a broad-based rally led by software, financial, travel, and leisure stocks, small caps, and a strong initial public offering.
For the week, the Dow Jones Industrial Average rose by 3.19 percent to 49,447, near its weekly high. The S&P 500 gained 4.54 percent to 7,126, surpassing 7,100 for the first time. The Nasdaq Composite led for a third consecutive week, surging 6.84 percent to an all-time high, while the Russell 2000 advanced 5.56 percent….
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