(Bloomberg) — Wall Street ended the week on a positive note, with stocks closing at all-time highs on speculation the Federal Reserve will start cutting rates this year — bolstering the outlook for Corporate America.
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Another rally in the S&P 500’s most-influential group — technology — drove the gauge to a record for the first time in two years. Fueled by hopes the artificial-intelligence boom will keep powering the market higher, the benchmark topped 4,800 — defying warnings that the rally remains concentrated in a narrower group of shares.
Equities pushed higher on Friday as a drop in Treasury volatility continued to bode well for risk-taking on Wall Street. Also helping sentiment somewhat was a report seen by many as “Fed-friendly,” showing a mix of high consumer confidence and lower inflation expectations.
“After a more than two-year wait, the stock market hit a new record high,” said Greg…
