US stocks traded higher on Thursday, with the S&P 500 notching a new record as data showed the US economy near full recovery, boosted by a trifecta of the stimulus spending, vaccine rollouts, and a widening reopening.
The country’s first-quarter gross domestic product grew at an annualized rate of 6.4%, the Commerce Department announced on Thursday.
The Federal Open Market Committee concluded its two-day April meeting Wednesday, announcing it would maintain its ultra-accommodative policy stance.
Net income grew 94% to $9.5 billion, or $3.30 per share – up from $4.9 billion, or $1.71 per share, a year ago.
The Cupertino, California-based company reported a record non-holiday quarter driven by strong iPhone 12 sales, with revenue growing 54% year-over-year.
Bitcoin continues to trend below the $60,000-level after peaking to its record high in mid-April but Anthony Scaramucci’s SkyBridge Partners said investors should hold on and not sweat over the wild volatility.
Oil markets ignored a rise in official US Crude Inventories, rallying even after the dovish FOMC meeting.