U.S. stocks near record levels as traders brush off bond rout
U.S. stocks climbed near record high levels on Monday as traders discounted a bond market sell-off. The S&P 500 index edged closer to a record high, while the tech-heavy NASDAQ Composite and blue-chip Dow Jones Industrial Average also posted gains. A dip in oil prices and concerns over an inflationary shock due to rising global borrowing costs helped offset the bond market decline.
France's fiscal issues, including a widening sovereign credit spread, added to market jitters. The week ahead is expected to be relatively calm, with light economic data and an earnings calendar.
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