Stock Buyer Fatigue Kicks In as Bond Yields Rise: Markets Wrap

A strong week on Wall Street ended on a quiet note, with stocks holding near all-time highs and bonds falling as consumer data did little to alter bets the Federal Reserve will cut rates in September.

Following a relentless surge, the S&P 500 barely budged. The IPO market kicked into high gear this week, with deals raising over $4 billion in the busiest period since 2021. A gauge of megacaps jumped Friday, led by Tesla Inc. Shares of vaccine makers slumped on a report health officials plan to link Covid shots to the deaths of around two dozen children.

Stocks hold near record.

Photographer: Michael Nagle/Bloomberg