Stock Bulls Drive S&P 500 to Brink of Record High: Markets Wrap

Wall Street’s renewed push toward all-time highs saw stock investors setting aside recent geopolitical fears amid hopes that a resumption of Federal Reserve rate cuts will fuel the outlook for the economy and Corporate America. Treasury yields fell alongside the dollar.

A nearly $10 trillion surge in the S&P 500 from the edge of a bear market put the gauge briefly above its Feb. 19 closing peak of 6,144.15. The benchmark ended just shy of that mark at 6,141.02. Big tech led gains. Banks climbed as a veteran analyst said that as long as there’s no recession, it’s “game on” for the shares. A closely watched gauge of stock volatility - the VIX - slid to 16.59 after topping 52 at the height of April’s tariff-fueled turmoil.