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Wall Street traders parsing a batch of economic reports in a session marked by a slowdown in transactions drove stocks to all-time highs. Short-dated bonds underperformed. The dollar fell.
In a narrow tech-led advance, the S&P 500 rose for a fourth straight day. Volume was below the average of the past three months ahead of the Christmas holiday. The index rebounded even after data did little to encourage bets the Federal Reserve will cut rates in the near term.
Treasury two-year yields - more sensitive to imminent Fed moves - remained above 3.5%. That was after data showed the economy expanded at the fastest pace in two years. A drop in consumer confidence spurred only a mild bounce in bonds from session lows. The S&P 500 topped 6,900. Its equal-weighted version - which gives Dollar Tree Inc. as much clout as Apple Inc. - edged lower. A gauge of big techs climbed about 1% while smaller firms underperformed.
Today's show features:

• Bloomberg Equities Reporter Alexandra Semenova on her story explaining why some investors are fearful of overly optimistic expectations from equity analysts
• David Schassler, Head of Multi-Asset Solutions at VanEck Funds, on investing trends to watch as we close out the year
• Travis McCready, Head of Industries, Leasing Advisory, at JLL, on the structural forces poised to shape real estate decisions and investment demand for the life sciences sector in 2026
• Bloomberg News Chief Correspondent for Global Aviation Siddharth Philip on expectations for record holiday air travel expectations among US carriers

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