U.S. stocks rose to all-time highs as Apple Inc. climbed on comments from Carl Icahn and banks rallied amid higher bond yields.
The Standard & Poor’s 500 Index climbed 0.3 percent to 2,129.01 at 4 p.m. in New York, closing at a record for the third consecutive session. The Dow Jones Industrial Average added 0.1 percent to also close at an all-time high, its first since March 2.
The back-to-back weekly advance halted a string of five up-and-down periods for the S&P 500, as multinational companies rallied amid a weaker dollar and mixed economic data boosted speculation the Federal Reserve won’t rush to raise interest rates. With a selloff in global bond markets subsiding last week, a measure of U.S. stock volatility posted its longest streak of losses in three weeks and closed near this year’s low.
Source : Bloomberg