SP 500 closes in on record high as tech rallies

The S&P 500 edged closer to a record high on Monday, propelled by a strong performance from major technology firms, despite concerns over high oil prices and rising bond yields. The tech-heavy Nasdaq 100 also reached a new all-time high, as political instability in Europe and fiscal concerns weighed on the euro, bringing it to its lowest level since May 2025.

Meanwhile, longer-term Treasury yields hit multi-decade highs, as markets have adapted to higher interest rates, surging energy costs, and renewed worries about inflation. Carol Schleif, Chief Market Strategist at BMO Wealth Management, discussed these market dynamics with Bloomberg Businessweek Daily hosts Carol Massar and Norah Mulinda.

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