- Stocks eked out small gains but they were enough to propel the S&P 500 to its first-ever close above 2,000, as the path of least resistance continues to the upside.
- Today's better than expected report on durable goods orders reinforces market optimism about the economy, says BTIG's Dan Greenhaus, even though much of the gains came on increased demand for commercial aircraft.
- Biotech stocks outperformed for the second day in a row, with the top biotech ETF rising to a new record high; energy and financials also finished ahead of the broader market.
- Trading volume remains very light, but today's ~500M shares traded on the NYSE floor was at least a bit heavier than yesterday.
- Treasurys ended little changed, with the 10-year yield closing at 2.39%.