The S&P 500 index closed up 0.77%, marking a historic first breakthrough above 7,500 points; the Nasdaq Composite index rose 0.88%, continuing to hit a new record closing high; the Dow Jones Industrial Average gained 0.75%, regaining the 50,000-point level.


U.S. retail sales data for April confirmed consumer resilience, but rising inflation and higher long-term Treasury yields are forming a severe squeeze.
The 10-year U.S. Treasury yield rose to 4.5%, and the 30-year Treasury yield even briefly broke above 5%, both hitting nearly one-year highs.
Mona Mahajan, Head of Investment Strategy at Edward Jones, said that the reasons for cutting interest rates are increasingly untenable, and acting Federal Reserve Chair Jerome Powell will have to remain patient.
Adam Turnquist of LPL Financial warned that the continued rise in long-term interest rates will pose a significant obstacle to the valuation of growth stocks.
SPYX-0.51%
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