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S&P 500 reaches new high on tech boost
The Standard & Poor's 500 Index rose to a new record high, supported by gains in major technology stocks, falling oil prices, and decreased U.S. Treasury yields, which boosted the performance of the American market. Shares of semiconductor companies such as AMD, Nvidia, and Broadcom increased, while 10- and 30-year Treasury bond yields declined, further supporting the technology sector. The minutes from the Federal Reserve's meeting are expected to be released to understand the interest rate hike decisions, amid volatility in the bond market and declines in oil prices, with Brent crude falling to around $98 per barrel.
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