S&P 500 Rises to Near-Record Level Before Earnings: Markets Wrap

Wall Street traders betting on a solid earnings season pushed stocks to striking distance of all-time highs on Thursday, defying concerns about elevated energy costs and bond yields. The S&P 500 rose to a near-record level as investors positioned for a strong reporting period, with the benchmark approaching its previous peak despite lingering worries over inflation and the fixed-income market.