As rally in US stocks rolls on, signs of caution grow

NEW YORK: The S&P 500 shook off concerns about a more hawkish Federal Reserve to post a record high this week, but activity in some areas of the market indicates concern over potential volatility ahead of key economic data and corporate profit reports.

U.S. President Joe Biden’s embrace of a $1.2 trillion infrastructure spending deal has helped buoy indexes to fresh records, after worries that the Fed may unwind its easy money policies sooner than expected led to a brief swoon earlier this month. The benchmark S&P 500 is up about 14% this year after hitting a fresh record in the past week, as did the tech-heavy Nasdaq.