Dow, S&P 500, Nasdaq Rise to New Highs; Oracle, Klarna, Nvidia, Synopsis; CPI Inflation Report

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Bonds are rallying, stocks are as well. Bitcoin is up too, but pockets of weakness exist in the market.

Each of the three key indexes are higher with the Dow up 600 points, or 1.3%, on pace for its fourth record close of the year. The S&P 500 is up 0.8%, while the Nasdaq was up 0.7%. Both indexes closed at their all-time highs yesterday.

Stocks of smaller companies are also gaining, with the Russell 2000 up 1.3%; the index is on track to close at its highest value since December 4 of last year.

Both the 2-year and 10-year Treasuries are higher, and Bitcoin is up 0.5% today.

The two areas that are seeing outright weakness in the U.S. are energy and the currency market.

The dollar is down 0.3% as traders are confident that the Fed is ready to start cutting rates. Lower interest rates make dollar-denominated investments less attractive to foreign investors.

Energy is getting hit, with West Texas Intermediate futures down 1.9%. Energy is one of only two S&P 500 sectors that are lower today. The Paris-based International Energy Agency forecast more supply of oil this year than it had previously estimated. Higher supply with limited demand pushes prices down.

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