Equity Buyers Power Wall Street Rebound – US Market Wrap

A fresh burst of dip-buying powered a rebound in equities amid speculation that stocks still have room to climb after a brief pause in the six-month rally from the brink of a bear market.

The unrelenting demand for shares — which has already lifted the S&P 500 more than 35% from its April lows — pushed the benchmark to new record highs, energizing investors convinced the bull market has further to run.

Momentum-driven traders continued pouring into equities after a string of record-breaking sessions fueled by corporate strength and the resumption of Fed rate cuts. Renewed excitement over artificial intelligence has overshadowed warnings about a potential bubble in the high-profile tech names leading the advance.

The yield on 10-year Treasuries was steady at 4.13%. A $39 billion US debt auction drew demand that slightly missed expectations. The dollar climbed to its strongest level since August, while gold surpassed $4,000.

With a light economic calendar during the US government shutdown, investors combed through the minutes from the latest Fed meeting, which showed policymakers open to additional rate cuts this year — though many remained wary due to lingering inflation risks.