REUTERS: U.S. stocks rose on Monday, with the S&P 500 and the Nasdaq hitting record highs, as consumer spending rose in March and benign inflation data underscored the Federal Reserve's accommodative stance on interest rates.
"We're in a sweet spot where the rates are low and the economy is strong and there is no possibility of rates rising, and that is an environment that markets like," said Paul Brigandi, managing director and head of trading at Direxion in New York. In yet another busy week of earnings, about 160 S&P 500 companies, including Google-parent Alphabet Inc and Apple Inc, are set to report their quarterly results.
The defensive utilities and real estate, led the declines among the seven major S&P sectors trading in the red.
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