The S&P 500 and Nasdaq surged on Thursday to close at their highest in 14 months, as investors cheered economic data that fueled bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. Treasury yields slid after a slew of economic data pointed to easing inflation, helping offset worries about future rate hikes and boosting Apple and Microsoft to record highs. Data showed U.S. retail sales unexpectedly rose in May as consumers spent on a range of goods including vehicles.

https://business.inquirer.net/405595/sp-500-leaps-to-highest-close-in-14-months-traders-bet-us-rates-near-peak

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