The S&P 500 rallied for the eighth week, while the Dow Jones Industrial Average closed at another record high despite elevated bond yields and signs of an economic slowdown.
Trade was volatile, as bond yields fluctuated widely during the week, following swings in oil prices and the release of the Federal Open Market Committee meeting minutes, which suggested an interest rate hike may be in the offing. Some analysts are concerned about valuations, especially in the hot tech sector.
For the week, the Dow Jones Industrial Average rose by 2.13 percent to close at 50,579, near its weekly high reached on May 22. The S&P 500 edged up by 0.88 percent to 7,473. The Nasdaq Composite finished up by 0.45 percent, while the Russell 2000 fared the best, up by 2.72 percent….