Dow edges higher as stocks attempt to build on longest winning streak in 2 years

U.S. stocks edged higher Wednesday morning, attempting to build on a rally that’s pushed the S&P 500 index up more than 6% over seven days.

What’s driving markets The S&P 500 index has risen 6.3% over the course of its winning streak. Much of the propulsion has again come from big technology stocks. The tech-rich Nasdaq Composite is up 8.3% over an eight-day streak, also the best run in two years. However, Nathan added: “Stocks may well pause for breath as investors balance the hope for rate cuts with building financial stresses in the economy. And it wouldn’t be the first time it the current cycle of elevated interest rates that the market has been wrong about the timing of the Fed pivot.”

“But…given the bearish positioning by both institutional and retail investors, we believe stocks likely levitate on the absence of macro news,” Lee added.

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Will a stock-market rally follow a peak in bond yields? It depends.William Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.
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