S&P 500 Closes at Record High in Tech-Led Advance: Markets Wrap

Wall Street traders parsing a batch of economic reports in a session marked by a slowdown in transactions drove stocks to all-time highs. Short-dated bonds underperformed. The dollar fell.

In a narrow tech-led advance, the S&P 500 rose for a fourth straight day. Volume was below the average of the past three months ahead of the Christmas holiday. The index rebounded even after data did little to encourage bets the Federal Reserve will cut rates in the near term.