Financial Times FT.com

Wall St rallies as data boost sentiment

By Michael Mackenzie in New York

Published: June 1 2007 14:11 | Last updated: June 1 2007 21:23

Wall Street enjoyed another banner week, with the S&P 500 and other benchmarks moving into record territory.

Deals and earnings continued to provide a catalyst for big moves in a number of stocks. Technology and small capitalised stocks led gains as a series of economic reports this week suggested that the economy could enter summer on an upswing. While that outlook has largely reduced the chance of a Federal Reserve rate cut this year, stock investors focused on the bright side of a robust economy in 2007.

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