A US flag flies outside The Federal Reserve Bank of New York in New York City. - Reuters
NEW YORK (Reuters): US President Joe Biden’s massive infrastructure proposal and the upcoming corporate earnings season could offer investors fresh insight on the sustainability of a rally that has taken stocks to all-time highs.
The S&P 500 scaled 4,000 for the first time on Thursday and closed up 1.18% at 4,019.87, extending the benchmark index’s gain to nearly 80% from lows in March 2020. The rally has been driven by unprecedented U.S. stimulus measures and expectations that widespread vaccinations against COVID-19 will spur an economic rebound.
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