S&P rises to new record close as economic optimism continues

|By:, SA News Editor

Stocks edged higher for the fourth straight session, with the S&P 500 notching another record close, on the heels of a pair of economic reports (I, II) that gave investors more reason for optimism about U.S. growth.

Recent data have helped boost confidence that earlier disappointing reports on the U.S. economy were the result of unusually bad winter weather rather than an underlying slowdown.

Holding tough after yesterday's gains and not giving much back is impressive, one analyst tells CNBC, siding with bulls as small caps and tech starting to recover after a horrible March.

On the other hand, "we're running out of catalysts" for continued gains, and stocks are looking pricier, so "there aren't a lot of table-pounding buys," says a chief investment officer.

Treasury prices slid, sending the benchmark 10-year yield 4.5 bps higher at 2.804%, hitting the top of its trading range from recent months.