NEW YORK (AP) — U.S. stocks are rising toward records Monday as Wall Street’s momentum keeps driving it upward.
The S&P 500 was 0.4% higher in afternoon trading and on track to edge past its all-time high set on Wednesday. It’s coming off its 10th winning week in the last 12, lifted in large part by expectations that inflation is slowing enough to convince the Federal Reserve to ease interest rates soon.
The Dow Jones Industrial Average was up 184 points, or 0.5%, and also on pace for a record, as of 1 p.m.
Eastern time, while the Nasdaq composite was 0.4% higher. Some of the market’s best performing areas were ones that do best when former President Donald Trump’s chances for election look better.
Trump Media & Technology Group , the company behind Trump’s Truth Social platform, leaped 33.2%. Bitcoin rose back above $63,000 after Trump, who has painted himself as a crypto-friendly candidate , survived an assassination attempt over the weekend.
Trump could get an immediate bump in his support in polls, as President Ronald Regan did in 1981, according to Isaac Boltanksy, director of policy research at BTIG, and “Trump’s defiance following the attack could be the defining image of this election cycle .” Yields for longer-term Treasurys also pushed higher than shorter-term ones, and the 10-year Treasury yield climbed to 4.22% from 4.
19% late Friday. Something similar happened after last month’s debate between Trump and President Joe Biden, when traders made m.
