Wall St. Gains As S&P 500 Closes Higher Than 5,000

Wall Street closed last week extending its gains, reaching another record high as the S&P 500 closed above the 5,000 level for the first time, according to Stan Choe's report for the Associated Press (AP).

The S&P 500 index rose by 0.6%, the Nasdaq composite also surged by 1.2%, while the Dow Jones Industrial Average experienced a slight decline of 0.1%.

The S&P 500 index rose by 0.6%, marking its 10th record in less than a month and continuing its winning streak with 14 out of the last 15 weeks ending positively.

The Nasdaq composite also surged by 1.2%, nearing its all-time high set in 2021, while the Dow Jones Industrial Average experienced a slight decline of 0.1% after setting its latest record the previous day.

In the bond market, Treasury yields saw a slight increase, with the yield on the 10-year Treasury rising to 4.16% from 4.15% late Thursday. However, these movements were calmer compared to earlier in the month, when yields spiked amidst rate cut forecasts.

Across global stock markets, indexes showed mostly modest declines, with several Asian markets closed for the Lunar New Year holiday. Tokyo's Nikkei 225 index edged up by 0.1%, reaching a 34-year high earlier in the day.

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