Lifted by gains in market heavyweights including increases in both Amazon (AMZN.O) and Tesla (TSLA.O), the S&P 500 has now recovered over 20% from its October 2022 lows.
"The further out the October lows get in the rear view mirror, the more confident investors become.
According to preliminary data, the S&P 500 (.SPX) gained 40.33 points, or 0.94%, to end at 4,339.19 points, while the Nasdaq Composite (.IXIC) gained 202.78 points, or 1.53%, to 13,461.92.
The U.S. Labor Department's consumer price index reading on Tuesday is expected to show inflation cooled slightly in May, with core prices likely remaining sticky.
Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally.
Persons:
that's, Jake Dollarhide, Tesla, There's, Dylan Kremer, Goldman Sachs, Morgan, Shristi Achar, Sruthi Shankar, Noel Randewich, Vinay Dwivedi, Sriraj Kalluvila, David Gregorio Our
Organizations:
Nasdaq, Oracle, Longbow, Management, Dow Jones, U.S, Labor, Traders, Nasdaq Inc, FDA, Broadcom, Reuters, VMware, Thomson
Locations:
Tulsa , Oklahoma, megacap, Philadelphia, Bengaluru, Oakland, Calif