By Stephen Culp

NEW YORK (Reuters) – A tech-led rally pushed Wall Street higher on Thursday and Treasury yields extended their pull-back from recent peaks as market participants digested the U.S. Federal Reserve’s pledge to stay the course with its dovish monetary policy.

The Nasdaq was sharply higher while the S&P 500, while up more modestly, was on track to notch another record high. But the blue-chip Dow was in the red, though only slightly, weighed down by financials and industrials.

European stocks touched all-time highs on growing optimism about a global stimulus-driven economic revival and reassurances from the Fed. Emerging market stocks and equities in Asia, aside from Japan, also rose.

“The momentum for stocks will continue largely because of the stimulus that’s been brought into the economy and the multiplier effects that will continue to keep the economy going,” said Bernard Baumohl, managing director and chief global…

Read more…

Share.

Comments are closed.