U.S. stocks jumped to record highs with retail sales and weekly jobless claims data signaling an accelerating recovery in the world’s biggest economy. Yields on benchmark 10-year Treasury notes dropped the most since February.
The S&P 500 advanced to an all-time high, led by the real estate, health care and technology sectors. Financial shares declined with yields falling, even after Citigroup Inc. and Bank of America Corp. posted better-than-forecast trading revenue. The Dow Jones Industrial Average and the Nasdaq 100 indexes also reached all-time peaks.
“The consumer is ready to go out and spend, after nearly a year of lockdowns from Covid-19,” said Vanessa Martinez, managing director and partner at The Lerner Group, a Chicago-based wealth management firm. “There is plenty of pent-up demand in the economy.”
The ruble slid as the Biden administration imposed new sanctions on some Russian debt, individuals…