The S&P 500 and Nasdaq Composite ticked up to fresh all-time highs on Monday, underscoring the strength of the rally that has carried equities higher since late June.
The S&P, Dow Jones Industrial Average and Nasdaq all hit record highs on the same day last week for the first time since 1999. Bonds have rallied as well, sending yields on many European government debt down to historic lows, as investors bet global central banks will keep policy loose.
The energy sector led the broad S&P higher on Monday, as the price of West Texas Intermediate, the US oil marker, rose 1.4 per cent to $45.11 a barrel.
Investors were also awaiting a handful of economic reports due this week, including the latest reading on inflation at the consumer level. The Federal Reserve also unveils on Wednesday minutes from its July policy-setting meeting.
Looking further ahead, remarks from Fed chief Janet Yellen later this month at the central bank’s economic symposium at Jackson Hole, Wyoming may provide a deeper sense of direction for the markets, said David Kelly, chief global strategist at the JPMorgan Funds.
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