The S&P 500 closes at All-Time High

sp 500 ATH

U.S. stocks reached new record highs due to a fast-pacing recovery in the national economy as revealed by retail sales and weekly jobless claims data.

The S&P 500 was pushed to an all-time high by the real estate, health care and technology sectors while the Dow Jones Industrial Average and the Nasdaq 100 also jumped to all-time peaks. Market specialists see consumers starting to spend after a year of holding back demand due to Covid-19 lockdowns.

Yields on benchmark 10-year Treasury notes fell to their lowest since February leading to financial shares declining despite the higher-than-expected trading revenue of Citigroup and Bank of America.

The Russian ruble fell due to the Biden administration imposing new sanctions on some Russian debt, individuals and entities as a response to alleged misdoings for the U.S. election and the SolarWinds hack. Investors believe the international tension may have helped in the Treasuries drop as many were positioned for higher yields.

Market experts recognize the dynamics in the markets as confusing and see the recent fall of 10-year Treasury notes as a pause to a very rapid increase, before they start to go up again.

In other markets, Bitcoin gained and oil edged higher. The Chinese Economy increased 18.3% in the first quarter in comparison to a year before, reaching a record high rate of growth and signaling recovery from a deep coronavirus drop.

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