Equity Bulls Show ‘Extreme Greed’ As S&P 500 Climbs – US market Wrap

Stocks rose on a rise in several major technology companies, with Nvidia momentarily reaching $4 trillion. Treasuries rose after a strong $39 billion sale, while minutes from the Fed’s most recent meeting revealed members remained divided on how tariffs will affect inflation.

Equity traders shrugged aside trade concerns, sending the S&P 500 just a few points away from its record closing high. The CNN Fear & Greed Index is now showing “Extreme Greed,” indicating the market’s positive momentum. A barometer of megacaps rose 1.1%, with Nvidia extending this year’s advance to more than 20%.

The Treasury market recovered from a five-day selloff, with 10-year rates falling six basis points to 4.34% following a maturity sale. Wednesday’s auction was awarded at 4.362%, compared to a 4.365% when-issued yield at the 1 p.m. New York time bidding deadline. This is the second of three auctions, culminating with a longer-term debt sale on Thursday.

Trump released a new round of tariff demand letters from Iraq to the Philippines, with tariffs scheduled to take effect in August on imported goods from partners that fail to strike an agreement with the US. Brazil’s real led losses in major currencies after Trump stated the South American country had not been good to the US, adding that tariffs should be released by tomorrow morning.